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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




Tags: fine | Iraq | regulator | Asiacell | listing | mobile phone | Korek |

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