DUBAI, United Arab Emirates (AP) — Mideast telecommunications firm Etisalat is dropping plans to bid for a mobile operating license in Syria, dealing a new blow to its international expansion efforts.
The Emirati company had qualified to bid but said Wednesday it opted not to because the terms and conditions on offer weren’t attractive enough. It didn’t elaborate.
Abu Dhabi-based Etisalat last week abandoned its $12 billion effort to acquire a large chunk of Kuwaiti rival Zain, in part because of regional political unrest. That deal would have significantly expanded Etisalat’s Mideast footprint.
Etisalat operates in 18 countries across the Middle East, Asia and Africa. It’s seeking further growth abroad to make up for shrinking revenues at home.