The UK-based Vodafone Group has signed its third Partner Agreement, with Kuwait’s mobile operator Mobile Telecommunications Company (MTC), under which the companies will jointly develop products and services for travelers and domestic users. No financial terms of the agreement, the first of its kind with an operator in the Middle East, were revealed.
MTC will also replace its brand with a dual MTC-Vodafone brand and market a range of international products from Vodafone using existing product names. Vodafone and MTC have also agreed to cooperate in the acquisition of multinational accounts
Vodafone expects the move to increase its presence in the Middle East mobile market while allowing for the realization of new sources of revenue. MTC currently has a 600,000-stong customer-base.
Vodafone is the largest mobile telecommunications network company in the world. It has interests in mobile networks in 28 countries across five continents. In June 2002, Vodafone had over 103 million proportionate customers worldwide. By market capitalization, Vodafone is one of the largest companies in Europe. Vodafone Group employs over 100,000 staff worldwide. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
