“Etisalat” Participates in SAMENA Telecommunication Conference in Abu Dhabi
Engineer Bin Ali: showcases Etisalat International Success Story around the Globe
Abu Dhabi: “Etisalat Group” 27 April, 2011: “Etisalat Group” has participated in SAMENA Telecommunication Conference beyond Connectivity, which took place in the capital Abu Dhabi under the theme “Building Digital Economies” during the period 25 – 27 April, 2011.
Engineer Ahmed bin Ali, Group Senior Vice President Corporate Communication -“Etisalat Group” has addressed a panel discussion on Industry M&A saying: “business development and diversification of income resources have become inevitable to trigger development, particularly after the sector saturation lately in many countries”. He added that the business models and acquisitions in the sector that took place recently have contributed largely in promoting the sector and creating sophisticated technology that meet individuals and businesses increasing demand for telecommunication services.
Bin Ali also demonstrated “Etisalat Group” experience in capturing opportunities of growth and wise international and local investment at the same time. He said “we continued reinforcing our investment in the Fiber Optic networks and modern technology. Today, ‘Etisalat’ has announced that it has completed connection of Abu Dhabi city with Fiber Optic network to be the first city in the world fully connected. The Fiber Optic network covers all over the UAE with a distance estimated at 5 folds the distance between Earth and the Moon, the matter that will enhance the culture of using high speed Internet and providing our customers the opportunity to enjoy the service high quality when using the customized applications and content.
Bin Ali added that the intention of “Etisalat Group” for international expansion is to increase and diversify income sources and to boost shareholders returns and also to develop the sector in countries we operate in. He said “Etisalat Group” experience in “Mobily” Saudi Arabia that contributes largely in the Group profits with a subscriber base estimated at 20 million subscribers, was successful and a motive to unfold more international investments opportunities. “Mobily” has managed to cover 28 Saudi cities in less than 6 month. He added that “Etisalat Egypt and Etisalat Afghanistan have also reached the breakeven point as per the operational profits in a very short period relative to any other new entrants in another country.
Bin Ali continued and said that the Group balances its investment operations by acquiring existing operators according to criteria that is consistent with the Group’s strategy as the case in Pakistan, Canar (Sudan), Zantel, Sri Lanka and Indonesia. Contribution of international operations today in the Group revenue has increased significantly to reach 46% (Q4, 2010 results). The Group maintains its financial elasticity by adopting balanced policies that are diligent and wise, the matter that helped the group to be free of substantial debts in the current conditions of the market. The Group has the necessary credit rating and liquidity for more investments.
Bin Ali concluded that “Etisalat” outlook is confident and optimistic and he expects emergence of more challenges and lucrative opportunities in the coming few years. On the international level, he said, there is a need for more policies and regulations that assist in the sector’s growth and attracting investments particularly in the emerging economies and add further favorable principles that encourage foreign investments and industry development.
SAMENA Telecommunication Conference has attracted number of senior officials and regulators in the Telecommunication sector from the Middle East, Africa and South Asia.