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Message: <blockquote data-quote="Mal Baba" data-source="post: 6783200" data-attributes="member: 194988">What Is The Best Mobile NetworkEtisalat Acquires 100% Stake in Millicom Sri Lanka “TIGO”<img src="http://img13.imageshack.us/img13/2843/300pxetisalatlogo.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /> Abu Dhabi,                     17 October 2009, Etisalat announced  its acquisition of a 100% stake in “Tigo Sri Lanka”, a wholly owned  subsidiary of Nasdaq listed Millicom International Cellular S.A, for an  enterprise value of 207 Million US Dollars. <img src="http://www.etisalat.ae/assets/images/press/CHAIRMAN1.JPG" alt="" class="fr-fic fr-dii fr-draggable " style="" /> H.E. Mohammed Hassan Omran ,Chairman - Etisalat. Tigo Sri Lanka, having commenced its  operations in 1989, is now, with a market share of 21%, the  second-largest mobile phone operator in Sri Lanka.  As at September  2009, the company had 2.25 million  subscribers.  Furthermore, both Sri Lanka as a country and Tigo Sri  Lanka as a company provide opportunities for further growth.   Mobile  phone penetration in Sri Lanka is 52% and in March 2009 Tigo Sri Lanka  was licensed to offer third generation services in addition to the  second generation services historically provided by the company and on  which its success has been built.  Etisalat’s  acquisition of Tigo Sri Lanka reflects its balanced approach to  investment.  Etisalat already has  existing  investments in Asia including Pakistan, Afghanistan, Indonesia and  India, markets which are among the fastest growing in the  telecommunications sector.  Commenting on  Etisalat’s latest acquisition, Etisalat Chairman, Mohammed Hassan Omran  said: “This new acquisition is a clear example of Etisalat’s  international investments strategy of seizing distinctive growth  opportunities and maximizing value to shareholders.”  He added: "Entering the Sri Lankan telecom market is a logical  addition to our interests in the Asia continent.  The acquisition  promises attractive returns as the Sri Lankan Government is increasing  its effort to promote foreign investment in all sectors.  The acquisition is of a mature operator with a strong  reputation for its good network and quality of service. It also offers  great opportunities for synergy with our other operations in the region,  particularly in the UAE, Saudi Arabia and India. We also plan to invest  in this company to ensure that it has the dynamism to take the leading  position in the market in the next few years and that it continues its  effective role in the development and growth of the telecommunications  sector in Sri Lanka."  Standard Chartered Bank acted as financial advisor to  Etisalat for this acquisition.</blockquote>

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