Iraq fines Asiacell, Korek for failing to list
Baghdad, June 26, 2012
Iraq's communications regulator has decided to fine mobile phone operator Asiacell $8,500 per day since September 1, 2011 for failing to list on the local stock exchange, a senior official at the body said on Tuesday.
Ahmed Alomary, commissioner of Iraq's Communications and Media Commission (CMC), told Reuters the regulator had also decided to fine Korek, in which France Telecom and Kuwait's Agility have stakes, $2,500 per day.
Asiacell, Korek and Zain Iraq are all required to list on the local bourse but missed the initial deadline of August 2011. Asiacell is majority-owned by Qatar Telecom.-Reuters
More IT & Telecommunications Stories
- Bahrain eGA to offer 26 new Apps in 2014
- Etisalat unveils high-data mobile bundles
- Bahrain to be ready for 5G network by 2017
- Eset wins top reseller award
- Etisalat wins performance award at CommsMEA
- Mideast IT spending to top $32bn in 2014
- MiX Telematics unveils fleet management solutions
- Etisalat unveils 100 MB data for prepaid users
- Du backs UAE entrepreneurs unit
- Aruba names new EMEA vice president