France Telecom ups investment in ME

France Telecom has snapped up a stake in Bahraini firm Lightspeed Communications through Jordan Telecom.

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By  Administrator Published  April 26, 2007

France Telecom has snapped up a stake in Bahraini firm Lightspeed Communications through Jordan Telecom.

The French telecoms giant said last week it has acquired a 51% share in Lightspeed, which supplies services such as voice over internet protocol (VoIP), video-on-demand and client database protection and security.

As a result of the agreement, Jordan Telecom, which is 51% owned by France Telecom, will launch double and triple play services in Bahrain before the end of the summer, according to a statement from France Telecom.

The investment in Bahrain is part of the French operator's ongoing investment strategy to increase its presence in the Middle East.

In addition to Jordan and Bahrain, France Telecom also has a 71.3% stake in Egyptian mobile operator Mobinil.

France Telecom claims to have over 12 million clients in Jordan and Egypt, out of almost 160 million customers worldwide.

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