Etisalat takes global top spot in proportionate subscriber growth

UAE-based Etisalat has surpassed regional competitor Zain Group as the fastest growing operator in the world, based on the number of proportionate subscribers.

According to Informa Telecoms & Media, Etisalat grew 106.41 per cent in Q108 compared to the previous quarter, achieving a proportionate mobile subscriber base of 24.2 million across its 16 markets.

Chairman Omran says Etisalat is on track to become one of the world’s largest operators by 2010.

The study ranked operator groups on the total number of mobile subscriptions based on their percentage ownership of mobile operators.

“At the end of 2007 Etisalat announced the acquisition of a 15.97 per cent stake in Indonesia’s Exceldomindo which has a subscriber base of around 13 million,” explained Mark Newman, Informa Telecom & Media’s chief research officer. “It has also seen strong growth in its home market in the UAE as well as in Egypt and Saudi Arabia.”

Etisalat has been valued at US$38.7 billion, while the Financial Times previously positioned it as the 219^th largest company in the world and the largest telco in the Middle East and Africa.

Mohammad Hassan Omran, chairman of Etisalat, said the report proved Etisalat’s international expansion strategy and showed the company was on track to becoming one of the largest operators in the world by 2010.

“We are continuing to seek new opportunities in countries where technology penetration is low and where we see good potential for rapid and exceptional returns for our shareholders and investment partners,” Omran commented.

Zain Group was pushed into second place with proportionate subscribers growing 70.31 per cent during the period to 32.9 million, while SK Telecom followed with 64.2 per cent growth to 36 million proportionate subscribers.

Operators with a heavy focus on emerging markets have continued to experience high growth rates with SingTel, Telecom Malaysia, Telekom Austria, MTN and Vodafone seeing annual growth rates of more than 40 per cent in their proportionate bases in Q108.

Source: Informa Telecoms & Media