Egypt’s Orascom win North Korea telecom wireless service bid
Orascom Telecom, Egyptian telecommunication company, announced that they win a tender of wireless service in North Korea, one most isolated country in the world. Through its subsidiary, CHEO Technology, 75% owned by Orascom and 25% by North Korea’s Korea Post and Telecommunication Corp , they will build wireless technology using 3G.
Orascom said the licence was valid for 25 years, with an exclusive period of four years. It plans to invest up to $400m in network infrastructure and licence fees over the first three years with the aim of rapidly deploying a network and offer mobile phone services to North Koreans.
North Korea launched a mobile phone service in November 2002 but banned the service for ordinary citizens a year-and-a-half later and began recalling handsets, according to media reports. A mobile network is still believed to exist in Pyong-yang to provide mobile services to government officials but foreigners are not allowed to use mobile phones in the country.
Source: Financial Times
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