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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Published: June 2007
Pages: 46
Mobile Telecommunications Company (MTC) is a mobile telecommunications company with significant operations in the Middle East and on the African continent. It is a leading operator in six Middle Eastern and 14 sub-Saharan African countries, providing a comprehensive range of mobile voice and data services to over 29.7 million active individual and business customers (March 31, 2007).
MTC operates in Kuwait and Bahrain as MTC-Vodafone, in Jordan as Fastlink, in Iraq as MTC-Atheer, in Lebanon as MTC Touch, in Sudan as Mobitel and in 14 sub-Saharan countries in Africa as Celtel: Burkina Faso, Chad, Democratic Republic of the Congo, Republic of the Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Sierra Leone, Tanzania, Uganda and Zambia. On March 24, 2007 MTC was successful in making the highest bid for the third mobile licence in the Kingdom of Saudi Arabia and expects to start operations in early-2008.
Listed on the Kuwait Stock Exchange, MTC’s market capitalisation exceeded US$24 billion as at May 1, 2007. There are no restrictions on MTC shares as the company's capital is 100% free float and publicly traded. The largest shareholder is the Kuwait Investment Authority (24.6%).
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