“Telecoms Struggle To Hold Line Against Crisis”
In a bylined piece in the April 4, 2009 issue of The National (Abu Dhabi), Booz & Company Partner Ghassan Hasbani (Middle East) wrote that that the global economic slowdown offers several opportunities for regional telecommunications operators to pursue acquisitions and expand globally. “Regional operators still have sufficient firepower to continue pursuing M&A investments (and) in addition, new acquisition targets are likely to emerge as a result of the depressed economic situation,” wrote Hasbani. In the meantime, he added, operators should use the pause from the global slowdown to review their international assets and extract more value out of them—a strategy that would require improved corporate governance practices and adapting to a multicultural environment. “Successful global organizations are those that are good at embracing the changes,” Hasbani added. “Regional telecoms operators will have to raise their game in this respect.”