E-Vision negotiates expansion to Kuwait
E-Vision has completed a second round of negotiations with Kuwait Cable Vision (KCV) to open up the Kuwaiti market to E-Vision's cable services.
E-Vision, a subsidiary of Etisalat, has completed a second round of negotiations with Kuwait Cable Vision (KCV) to open up the Kuwaiti market to E-Vision's services. If the deal comes through, Etisalat will be closer to its goal of becoming a leading regional communications player.
“The negotiations are part of an ongoing effort to expand our sphere of operations,” says Mohammad Hassan Omran, acting president and CEO of Etisalat and chairman of E-Vision. ”The corporation is constantly seeking to increase its foreign investments throughout the GCC in a manner that is in line with the general trend of the market and accords with our policy of openness and cooperation.”
Top executives from both sides took part in the negotiations. Talks focused on the terms of the partnership and whether it could serve as a vehicle to launch a GCC and a pan-Arab wide cable service. Technical feasibility of the project and the possibility of conducting a trial broadcast in Kuwait were also discussed.
“The drive to enter into a partnership agreement with E-Vision stems from KCV’s desire to increase its shareholders’ benefits,” says Wael Jassem Al Saqqer, KCV’s board director. “We are also convinced that E-Vision's work will add great value to this partnership and allow KCV to expand and enhance its services in the Kuwaiti market, as well as in the Gulf and other Arab markets.”
If it does happen, KCV will be a significant win for Etisalat. Already, Etisalat has sizeable investments in telecommunication companies in Qatar (Qtel), Sudan (Sudantel) and Zanzibar (Zantel). It is also the majority shareholder in Thuraya and recently tendered a bid to become the second mobile operator in KSA.