Etisalat buys Makes Major Move into Egypt

UAE telecoms service provider Etisalat has set its sights on taking almost a third of the Egyptian mobile market within three years of its launch, it said last week.The firm, which kicked off its Egyptian mobile operations at the start of this month, said it is targeting 10 million subscribers in Egypt by 2010, which it claimed would give it a 30% market share.

In a statement, Etisalat chairman Mohammad Hassan Omran said the company was counting on a combination of high economic growth and low mobile penetration to help it achieve this goal. Omran described Egypt as "a huge market", with a population of 70 million, but said mobile penetration was still below 20%.

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