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France Telecom is considering buying a stake in Iraqi Korek

France Telecom considers entering the Iraqi mobile market, as it contemplates buying a stake in the Iraqi telecommunication corporation.

MENA , Tuesday 7 Dec 2010
France telecom
France Telecom studying buying stake in Iraq telecommunication company, Cork, amounts to $ 1.2 billion
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France Telecom's Board of Directors will meet on Wednesday to study the possible acquisition of a stake in a Korek Telecom company, say sources in France Telecom. The company in question is the third-largest mobile phone service provider in Iraq.

France Telecom is preparing the required information package and it will be presented to the Board of Directors on Wednesday. A second source added that the takeover offer will be on the meeting agenda.


A report published by the Financial Times on 25 November, assessed France Telecom's acquisition of a minority stake in Korek at $1.5 billion.


At the time of the November report, France Telecom confirmed its long term interest in Iraq and said it was "exploring opportunities" there, but did not specify whether the company was looking at Korek in particular.


France Telecom spokeswoman declined to comment Monday evening. France Telecom's Board of Directors will meet on Wednesday to study the possible acquisition of a stake in a Korek Telecom company, say sources in France Telecom. The company in question is the third-largest mobile phone service provider in Iraq.

France Telecom is preparing the required information package and it will be presented to the Board of Directors on Wednesday. A second source added that the takeover offer will be on the meeting agenda.

A report published by the Financial Times on 25 November, assessed France Telecom's acquisition of a minority stake in Cork at $1.5 billion.

At the time of the November report, France Telecom confirmed its long term interest in Iraq and said it was "exploring opportunities" there, but did not specify whether the company was looking at Korek in particular.

France Telecom spokeswoman declined to comment Monday evening.
 

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