Mobily appoints new CEO and CFO

Troubled Saudi operator Mobily made two high-profile appointments to its executive team, naming Ahmad Farroukh (pictured) as CEO and Kais Ben Hamida as CFO. Commenting on both appointments, Khalifa Al Shamsi, managing director of the Etisalat affiliate, reportedly said: “We have appointed …

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Mobily to reissue results; Etisalat earnings impacted

Etisalat’s Saudi Arabian affiliate Mobily will reissue its 2014 annual financial statements, increasing the loss for the year by approximately SAR 830 million ($220 million), following an investigation of accounting errors by the kingdom’s Capital Market Authority (CMA), the company …

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Saudi regulator suspends Mobily trading

Saudi Arabia’s Capital Market Authority (CMA) has today suspended trading of Mobily shares on the country’s stock exchange after an investigation into the company’s financials. In a statement, the financial regulator said it will not resume trading until the operator …

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Etisalat sees strong start to 2015

UAE-based operator group Etisalat announced strong results for the first quarter of 2015, which it claimed in a statement “allows us to move forward in confidence as the leading operator in emerging markets, delivering advancements in each of the countries we …

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Etisalat continues to bask in positive effect from Maroc Telecom

UAE-based operator group Etisalat reported a near 50 per cent increase in net profit in Q4, thanks in part to the contribution of Maroc Telecom. In the three months to end December, the group said its net profit grew by …

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Mobily shares suspended after revision of 2014 financials

Saudi Arabia’s financial regulator, Capital Market Authority, suspended the trading of operator Mobily’s shares on the country’s stock exchange, following a revision of the company’s 2014 financial results According to Mobily’s audited results, it posted a SAR 913 million ($243 …

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MVNO Lebara launches in Saudi Arabia

European-based MVNO Lebara has announced the launch of its services in Saudi Arabia over Mobily’s network. The provider, named Lebara Mobile KSA (Kingdom of Saudi Arabia), was granted the licence as part of the Saudi regulator’s attempt to shake-up the country’s telecoms market by ordering each of the three operators to host an MVNO. Lebara, […]

Zain hits back at Mobily in dispute

Following news that Saudi operator Mobily requested a referral to arbitration after falling out with rival Zain over claims of an unpaid bill of SAR2.2 billion ($587 million), Zain has said it only owes SAR13 million. Zain has said that …

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Mobily, Zain in $587M Saudi standoff

Saudi operator Mobily requested a referral to arbitration after falling out with domestic rival Zain over what it claims is an unpaid bill. The two signed an agreement back in May 2008 to cooperate across a range of services including …

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