The second mobile telecommunications license in Bahrain is set to create significant economic opportunity in the country, according to Wataniya Telecom Bahrain, the consortium made up of Kingdom Investments, a group of leading Bahraini companies, entrepreneurs and Kuwait's mobile operator, Wataniya Telecom.
Kingdom Investments has a majority ownership of the consortium, and includes 15 Bahraini companies and entrepreneurs with considerable management expertise, financial resources, retail and technical experience and expertise in the Bahraini market. Further, the company intends to float itself into a public shareholder company at the nearest opportunity.
Launched in December 1999, Wataniya Telecom is the second licensed GSM mobile operator in the State of Kuwait. With a market capitalization exceeding $1.5 billion, the company has been a driving force in increasing the mobile communications market penetration in Kuwait to over 54 percent of the population.
The Company recently expanded internationally in December 2002 as the second licensed mobile telecommunications operator in Tunisia through its acquisition of 50 percent of GSM operator Tunisiana. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
