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Syriatel being sold

December 10th, 2007 · 2 Comments · Uncategorized

Rami Makhlouf is selling Syriatel.

His business has come in for a lot of criticism, because of his connections to the president. It is a lightning rod for all those who point to corruption at high levels.

It is not clear who the company is being sold to. MTN, the country’s other mobile operator, is already owned by a foreign company (from South Africa).

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2 responses so far ↓

  • 1 Dania // Dec 10, 2007 at 9.49 pm

    I have heard about this a week ago but didn’t take it seriously.
    but what ever the reason is, I don’t think that it is due to the criticisms, but because the fact that business in Syriatel will be threatened to be less profitable due to the big competition the year 2009 when the contracts of Syriatel and MTN that contained exclusivity of the cell connections business.
    so he might be looking up to an other mobile company that plans to hit the market very soon.

  • 2 sasa // Dec 11, 2007 at 2.10 am

    That’s very interesting Dania, thanks. I didn’t realise the exclusivity clause ended so soon – I thought it was something like 2015. Maybe you’re right about the plans to start a new mobile business. I’m interested to find out who’s buying the company now.

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