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Articles tagged with: Etisalat and Millicom
Etisalat's Entry Could Weigh on Sri Lankan Telecom Operators' Credit Quality
The entry of etisalat into Sri Lanka can further delay any prospects for recovery in the Sri Lankan telecom operators' profitability, says Fitch Ratings. Millicom International Cellular recently sold its fully-owned subsidiary in Sri Lanka, Tigo, to etisalat in a competitive bidding process. Tigo is the third-largest mobile telephony operator in Sri Lanka with a market share of around 20% and a nationwide network footprint. more
Etisalat Profits Up 9% After Exceptional Items
etisalat has a net profit of AED 6.85 billion (US$1.87 billion) the first nine months of 2009, down on the AED 7.189 billion a year ago. That earlier figure was boosted though by an "exceptional income" after federal royalty profit on sale of shares in Mobily of AED 892 million (US$243 million). Excluding this exceptional item, the net profit shows an increase of AED 550 million (9%) for the nine months ended September 2009, higher than the same period in 2008. more
Related Tags: United Arab Emirates
Millicom Sells Sri Lankan Mobile Network to Etisalat
etisalat is buying the Sri Lankan mobile network, Tigo from its current owners, Millicom International for approximately US$155 million in total cash proceeds. more
Related Tags: millicom-international, tigo, Sri Lanka