Companies / Kuwait
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MTC Looks To Expand In West European Markets
September 2006 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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According to local press reports, Kuwait-based Mobile Telecommunications Company (MTC) is preparing to take its first tentative steps outside of its Middle East and African (MEA) markets in wholly acquiring Greece's No3 mobile operator TIM Hellas. The successful integration of its pan-African operations across 14 countries has created confidence in its ability to take on further acquisitions. The Greek operator experienced a positive turnaround after a change in management in April 2005, leading to over 98% of its 2005 net additions being collected in Q405 alone. TIM's present owners, private equity firms Texas Pacific Group and Apax Partners acquired the