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Strategies & Market Trends : Emerging Market Investments

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From: Sam Citron	4/19/2006 3:21:11 AM
	of 8

How about this Kuwait Stock Exchange beauty: Celtel is an African success story. We began in our mobile phone operations in 1998, and since then we have built networks in 14 African countries, under licences that cover more than a third of the population of Africa. Our original holding company, MSI Cellular Investments, changed its name to Celtel International in January 2004. Commercially, we have a strong record of investment and growth. Culturally, we operate to the highest standards of professional and corporate ethics. Celtel has invested more than $750 million in Africa. Our goal is to build and operate world-class networks that will keep pace technologically with networks in Europe and North America. Celtel is a wholly owned subsidiary of MTC. MTC was established in 1983 to offer mobile telephony services in Kuwait. Through the acquisition of licences and established operations, the MTC Group has built a portfolio of five cellular operations in the Middle East, giving it the broadest operational experience and the biggest footprint in the region. In addition to its original business in Kuwait (trading as MTC-Vodafone), MTC has controlling stakes in MTC-Vodafone Bahrain and Fastlink in Jordan; management control and a significant equity stake in Atheer Telecommunications in Iraq; and a four-year management contract with the Government of Lebanon for MTC Touch (formerly Libancell). These five operations are managed independently and report in to the corporate headquarters based in Kuwait. MTC's revenue for 2004 was c. US$1.1 billion and EBITDA c. US$560 million. The Company currently has 3.4 million managed subscribers. MTC’s shares are quoted on the Kuwait Stock Exchange under the Ticker TELE and the Stock Number 605 and had a market capitalisation of c. US$7 billion as at 27 March 2005.

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