Mubadala

Press Releases

Mubadala to select operator for their Nigerian telecommunications license

Mubadala Development Company (Mubadala), a strategic investment and development vehicle established and wholly-owned by the Government of the Emirate of Abu Dhabi, will soon be announcing the company selected to become a 40 percent shareholder and operating partner to operate their telecommunications license in Nigeria.

05 September 2007

Mubadala Development Company (Mubadala), a strategic investment and development vehicle established and wholly-owned by the Government of the Emirate of Abu Dhabi, will soon be announcing the company selected to become a 40 percent shareholder and operating partner to operate their telecommunications license in Nigeria. Mubadala was granted a 15-year renewable Universal Access Service License (UASL) in March 2007. Mubadala has been allocated frequency in the 900 and 1800 MHz GSM band to offer mobile services and also has the right to provide fixed-line, voice, data services and establish an international gateway. Since obtaining the license, Mubadala and its Nigerian partners have conducted an in depth country analysis and detailed market research to develop an effective market entry strategy, coverage plan and evaluate technology options. As the project’s overall business plan was developed, Mubadala simultaneously worked with Goldman Sachs to identify potential operating partners. More than five large operators were short-listed for the process. Mubadala also started the process of identifying a technology partner and has issued a RFP to telecom equipment suppliers. The selection process is expected to be completed by October 2007. “Mubadala carefully selects investments that will contribute to the economic diversification of Abu Dhabi,” said Waleed Al Mokarrab Al Muhairi, COO of Mubadala. “As a principal investor and developer whose shareholder is the Government of Abu Dhabi, we create partnerships with companies that have the technical experience and qualifications to deliver strong financial returns. We believe that the Nigerian license and the company that we’ve chosen to be our operating partner will further our objectives.” Nigeria is an important and competitive market in Africa. With the largest population in the region, the country has potential for significant growth. It is a prominent and desirable market for telecommunications operators.