Investcom still in regional mobile race

The Lebanon-based telecomms group has added Cyprus's second GSM license to its list of regional mobile network assets.

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By  David Ingham Published  November 23, 2003

You've heard of Orascom, MTC and Wataniya, but don't forget Investcom, another player in the region's rapidly consolidating mobile telecomms industry. The Lebanon-based group recently acquired the license to launch a second GSM operator in Cyprus.

The new operator, Scancom, paid the equivalent of US $25.63 million to compete with the country's state-owned mobile incumbent. Scancom joins LibanCell in Lebanon, Spacetel Syria and Spacetel Yemen on Investcom's list of mobile network assets.

"The Cypriot license represents a cornerstone project for Investcom Holding for various reasons, the most important one being the penetration of the European continent," says Jamal Ramadan, executive director of Investcom.

"Cyprus is a very competitive market and we take personal pride in claiming our superiority and expertise in the telecommunications business."

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