Sprint Nextel Invests in the Mid-East and Africa
Wataniya International, the global investment and management arm of Wataniya Telecom, has announced that a consortium of regional investors led by Wataniya International have formalized an agreement with the USA's Sprint Nextel, to form Sprint Nextel Middle East, a new company that will deliver wireless communications services in the Middle East and North African region.
Mr. Ahmad Haleem, Chief Executive Officer of Wataniya International, said "We are delighted to announce this exciting new venture with an internationally recognized leader in the telecommunications industry. The new company will reinforce our leadership in innovation in our markets, and underpins our drive to always bring exciting and relevant services to our customers while increasing the value we offer to our stakeholders."
The formation of the venture is subject to the satisfaction of certain conditions, including regulatory approvals, and the transaction is expected to close later this year."
Posted to the site on 20th February 2007
