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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
Zain (formerly 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).
In September 2002, Zain entered into a Partner Network Agreement with Vodafone in Kuwait creating Zain Kuwait. In 2003 Zain continued its expansion with the acquisition of 96.4% of Fastlink in Jordan.
In 2003 Zain Bahrain was launched with the first 3G/EDGE nationwide network in the world.
In 2004 the Zain Atheer service was launched in Southern Iraq, and today covers Baghdad as well.
2004 also witnessed the Government of Lebanon handing over the management of one of the two mobile networks (Mic2) to the Zain Group, which is known now as mtc touch.
In March of 2005 Zain acquired Celtel International, a Dutch communications network company with major interests in 13 Sub-Saharan African countries, in a deal worth $3.36 billion and on March 24, 2007 Zain 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.
The Zain Group now operates in 18 countries.
Listed on the Kuwait Stock Exchange, Zain ’s market capitalisation exceeded US$24 billion as at May 1, 2007. There are no restrictions on Zain shares as the company's capital is 100% free float and publicly traded. The largest shareholder is the Kuwait Investment Authority (24.6%).
This Company Intelligence Report was produced as part of
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