Posts filed under ‘Jordan Telecom’
According to the Jordan Times, Jordan Telecom Group (JTG) grew its customer base to 2.52 million subscribers at the end of 2008, up 3.4% year-on-year. The company said the rise was mainly driven by growth from its Orange internet subscriber base, which reported 55.6% subscriber growth to 102,200. The Orange mobile customer base rose by 2.6% to 1.76 million, while the number of fixed line subscribers was up 0.5% to 663,400. The group’s net profit increased 6.1% to JOD100.3 million (USD142.7 million), while EBITDA was up 5.5% to JOD183.2 million. Revenues edged up 0.9% to JOD401.4 million, while JTG’s operating expenses before depreciation and amortisation declined by 2.7% to JOD218.2 million. Capital expenditure in 2008 amounted to JOD55.8 million, 6.7% lower than the JOD59.8 million in 2007.
Saudi Telecom company (STC) has won Bahrain’s third mobile network operating licence with a bid of BHD86.7 million (USD231 million), the country’s Telecommunications Regulatory Authority (TRA) announced yesterday, breaking the duopoly of state-run Batelco and Kuwaiti-owned Zain. According to Reuters, STC plans to launch its Bahraini operations in the second half of this year and aims to acquire a 20% market share in ten years. The Saudi telco has also committed itself to establishing a USD300 million venture capital fund in Bahrain that will nurture communications and IT companies in the region. Three other firms had registered interest in the auction, but did not bid. Mohammed al-Amer, chairman of the TRA, confirmed that these were Bahraini operators 2Connect and Mena Telecom alongside a consortium including France Telecom subsidiary Jordan Telecom. Saudi Arabia and Bahrain have strong links, as several million people cross a causeway linking the two kingdoms every year.