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Egypt's Orascom offers mobile services in North KoreaDec 15, 2008 (Datamonitor via COMTEX) -- Mobile operator Orascom Telecom has announced that it will offer mobile services in North Korea from next week, the first foreign telecoms company to do so. The Egypt-based company said it plans to invest $400m in infrastructure and license fees in North Korea over the next three years and expects revenue per user of $12 to $15 in the first year of operation. Orascom subsidiary CHEO Technology won the first commercial license to provide mobile telephony services in the country. Orascom Telecom owns 75% of CHEO Technology, while the remaining 25% is owned by the state-owned Korea Post and Telecommunications. The duration of the license is 25 years with an exclusivity period of four years. Last month Orascom reported a 65% decline to $397.49m in net income for the first nine months, compared to $1.3 billion for the same period in 2007. The company has operations in Egypt, Algeria, Tunisia, Pakistan, Bangladesh, and Zimbabwe. http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon [ Back To TMCnet.com's Homepage ] |