“Telecoms Spree Set To Dial Down”
In the January 19 issue of the Financial Times, Booz & Company Partner Bahjat El-Darwiche (Middle East) said that Middle East telecommunications companies are standing out in their goal to achieve competitiveness. Even after years of petrodollar-fuelled growth, few Gulf companies have made an impact on the international business scene, but the region’s telecommunications companies are a notable exception. Spurred by small, increasingly saturated but lucrative and partially protected home markets—and helped by government owners—Gulf telecoms companies have embarked upon an aggressive investment and acquisition spree in recent years. “So far, the objective of achieving competitiveness in telecoms is coming to maturity," said El-Darwiche. “Nearly all countries in the region now have at least two mobile operators and several broadband and fixed-line operators,” said El-Darwiche.