FRiENDi Plans IPO, International Expansion In MENA

FRiENDi Mobile, a leading mobile virtual network operator (MVNO) in the Middle East and North Africa (MENA), plans to launch an IPO in 18 to 24 months as well as win another four to five licences across the region, according to the company's CEO and founder, Mikkel Vinter. CFW notes that many mobile markets in the MENA region are approaching saturation, a situation that suits the development of an MVNO market. However, regulatory barriers in some markets, often intended to protect the incumbent operator, are likely to hinder FRiENDi's expansion plans.

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