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Mena Telecoms 'Will Do Better In Q2'
Published Jun 22, 2009
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The Middle East and North Africa (Mena) telecom sector will do better in the second quarter of 2009 on the back of stabilising economies as subscriber additions and usage improve, says a report.
"During the first two months of the second quarter of 2009, more aggressive offers from mobile operators started to emerge," said EFG analysts in a research note to clients.
EFG cited introduction of new plans and tariff reduction in Egypt by Mobinil and Etisalat Misr, while in the UAE, Emirates Integrated Telecommunications (du) launched an offer to provide a unified rate for incoming calls while roaming.
The investment bank also said it now favors Orascom Telecom over Telecom Egypt as the company's stock looks cheaper and is set to benefit from economic stability in global and emerging markets.
"At this stage we do not have clear preference for operators by type (integrated versus wireless) and would rather exploit the valuation theme to the fullest," said the investement bank in a note dated June 21.
Posted by
VMD - [Virtual Marketing Department]
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