DUBAI, United Arab Emirates (AP) — The United Arab Emirates’ biggest telecommunications provider says its team has won a potentially lucrative deal to enter the Iranian mobile phone market.
Emirates Telecommunications — or Etisalat — said Tuesday it won Iran’s third mobile license as part of a consortium with Iran-based Taameen Telecom. Taameen is owned by the state’s pension provider Iranian Social Security Organization.
Etisalat has a 49 percent stake in the consortium. It says it beat other bidders because of its technical qualifications and the share of revenue it offered Tehran.
Acquiring the license will cost an upfront fee of euro300 million, or $402 million.