Al Rostamani Group ties up with Cellucom
Dubai , July 1, 2007
Al Rostamani Group and Cellucom Group have finalised details of a joint alliance.
The transaction would facilitate growth and expansion in the telecommunications and mobility industry, as each business group would bring in its unsurpassed expertise and knowledge of their respective business activities.
The strategic alliance would enable each group to diversify its portfolio of business activities and open up areas for future business associations and activities.
'The decision of the Al Rostamani Group to partner with Cellucom Group is a strategic one, which reflects our interest in entering a high growth industry,' said chairman Al Rostamani Group Marwan Abdulla Al Rostamani.
'Telecommunications is and would continue to play a pivotal role today and in the future. We would like to cement our presence in the field and foresee the Cellucom partnership as enabling us to move in that direction. This move would open a new avenue of growth for the Group and help us enter retail markets in the region', added Al Rostamani.
The partnership between the two groups would not change the management of Cellucom as founder and CEO of the Cellucom Group Arun Nagar would continue his role in the day-to-day operation of the business.
Cellucom under Nagar's successful leadership has grown to become a leading regional retailer and distributor of the mobility sector.
'Cellucom will now witness a lot of new opportunities within the current areas of operations and beyond as it has partnered with the Al Rostamani Group. This move has been initiated as part of our strategic objectives to consolidate our presence in the existing markets and to focus on high-growth markets,' said Nagar.
Cellucom is based out if Dubai and currently has a strong presence in all the six GCC countries and a growing presence in East and Central Africa. It has also signed a master franchise with one of the large conglomerates in India, RPG Group, to open hundreds of stores under the Cellucom brand.
Around 70 Cellucom stores are already operational in India and the company expects to have 1,000 stores in India by year 2009.
The Al Rostamani Group, is one of the leading UAE businesses and regional conglomerates. Since its establishment in 1957, the Group has grown its business into various sectors including automobiles and trucks, real estate, construction, exchange, travel, and recycling, among others. Trade Arabia News Service