UAE based Etisalat has announced that its subscriber base has exceeded 100 million subscribers across its 18 markets in the Middle East, Asia and Africa. This comes shortly after Etisalat announced it has acquired an additional share equal to 18% in "Atlantic Telecom" thus increasing the shareholding to 100%.
Added to that is its application to the Indian Foreign Investment Promotion Board (FIPB), to obtain approval to raise its 45% stake in its Indian subsidiary Etisalat DB to 50% plus one share. Etisalat targets majority stakes in its subsidiaries and associates for more operational and financial synergy.
Recently Etisalat reported annual Net Revenues of AED 30.83 billion and Net Profits of AED 8.836 billion marking a 5% and 16% increase respectively, compared to 2008.
Etisalat has operations and investments in 18 countries in the Middle East, Asia and Africa including UAE, Saudi Arabia, Egypt, Sudan, Pakistan, Tanzania, Benin, Burkina Faso, Gabon, Niger, Togo, Republic of Central Africa, Ivory Coast, Nigeria, Afghanistan, India, Indonesia and Sri Lanka.
Source: Cellular News