SWEIMEH, Jordan, May 16 (Reuters) - Egypt's Orascom Telecom expects the local mobile market to grow by 15 million subscribers over the next two to three years, although 2009 market growth would slow, its chairman said on Saturday.
'Egypt still has some good growth. It's less than last year, but we still have some,' Naguib Sawiris told reporters on the sidelines of the World Economic Forum at the Dead Sea in Jordan.
'I think we're looking at another 15 million subscribers for the market in the coming two, three years.'
Orascom Telecom is the largest Arab mobile telephone operator by subscribers.
Earlier in the week, the head of telecoms research at EFG-Hermes said she expected 8 million new subscribers to be added to Egypt's three mobile operators in 2009, after 12 million were added in 2008.
Sawiris said growth opportunities in Egypt included broadband services and value-added sectors such as mobile banking.
Sawiris, whose company is in a dispute with France Telecom , said he did not see many expansion opportunities at this stage but was keeping an eye on Cuba.
'But right now our feeling is that more consolidation has to happen in the market on the subsidiary level, like we're doing in Bangladesh. We're in discussions now with Telecom Malaysia to combine our operations,' he said.
Sawiris added that mobile operators would benefit from merging because 'long term the smaller companies won't be able to compete'.
OT operates in Algeria, Pakistan, Tunisia, Bangladesh, Zimbabwe and North Korea as well as Egypt via its stake in Mobinil.
(Reporting by Yara Bayoumy; writing by Caroline Drees; Editing by Ruth Pitchford) Keywords: WEF EGYPT/SAWIRIS (yara.bayoumy@reuters.com; Reuters Messaging: yara.bayoumy.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Egypt still has some good growth. It's less than last year, but we still have some,' Naguib Sawiris told reporters on the sidelines of the World Economic Forum at the Dead Sea in Jordan.
'I think we're looking at another 15 million subscribers for the market in the coming two, three years.'
Orascom Telecom is the largest Arab mobile telephone operator by subscribers.
Earlier in the week, the head of telecoms research at EFG-Hermes said she expected 8 million new subscribers to be added to Egypt's three mobile operators in 2009, after 12 million were added in 2008.
Sawiris said growth opportunities in Egypt included broadband services and value-added sectors such as mobile banking.
Sawiris, whose company is in a dispute with France Telecom , said he did not see many expansion opportunities at this stage but was keeping an eye on Cuba.
'But right now our feeling is that more consolidation has to happen in the market on the subsidiary level, like we're doing in Bangladesh. We're in discussions now with Telecom Malaysia to combine our operations,' he said.
Sawiris added that mobile operators would benefit from merging because 'long term the smaller companies won't be able to compete'.
OT operates in Algeria, Pakistan, Tunisia, Bangladesh, Zimbabwe and North Korea as well as Egypt via its stake in Mobinil.
(Reporting by Yara Bayoumy; writing by Caroline Drees; Editing by Ruth Pitchford) Keywords: WEF EGYPT/SAWIRIS (yara.bayoumy@reuters.com; Reuters Messaging: yara.bayoumy.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.