It is possibly a credible reason for the cheerleaders of “Dear Leader” to celebrate. Egyptian tycoon Naguib Sawiris has said that he regrets getting involved in the Canadian telecoms market. “It was a bad idea,” he said referring to the Canadian law that mandates majority ownership and control of the telecoms networks to the native residents. He has blasted at Canada’s draconian protection policy in an interview with the CBC’s Amanda Lang.
Mr. Sawiris has been also running the only mobile network in North Korea. Under the brand of “koryolink” it’s ARPU is US$14 and EBIDTA margin is 80 per cent. Yes, it its coverage is limited to the country’s capital. Yet the subscription is growing with new services. It’s very easy to isolate a market on political ground. Making money in such place is a different ball game. Reuters reports.
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Abu Saeed Khan
Globe and Mail reports: Ottawa weighs loosening ownership rules in telecom sector.