Korek Telecom On FT's Radar

France Télécom is in talks to buy a minority stake in Korek Telekom, Iraq's third largest mobile operator, reports the Financial Times, citing sources familiar with the situation. The deal could give Korek an enterprise value of US$1.5bn, and the French incumbent could eventually acquire a controlling stake in the company. A successful deal, which would suit France Télécom's expansion strategy for the Middle East and Africa, could change the competition dynamics in Iraq's promising telecoms sector.

To read the full article, please choose one of the following options: