ESSAR-ACQUISITION 2LST

"Warid has expanded its greenfield operations to become
credible competitors and challengers in the market where it
operates; the time is now right for the next stage of its
growth and evolution", Nahayan added.

Ruia said, "Essar is delighted to partner with the Dhabi
Group to expand Essar's telecom operations in Uganda and
Congo. This is in line with Essar's plan to be a part of the
growing telecom market in Africa.
"This transaction with the Dhabi Group augments our
successful launch of telecom services in Kenya under the brand
'yu' which was a stepping stone for Essar to expand its
telecom footprint to the African continent," he said.
This deal is a reflection of Essar's plans to increase
its presence in the Middle East and Africa regions as it
explores business opportunities by forging partnerships with
prominent business groups.
After the successful launch of mobile services in Kenya
under the brand 'yu', Essar Telecom is now expanding its
footprint in East Africa with Uganda and Republic of Congo
operations.
Regarded as one of the fastest growing telecom operators
in Kenya, Essar Telecom Kenya has over 600,000 subscribers and
expects this number to grow significantly as it completes its
roll out across Kenya. PTI SKB
DDC