UAE-based telecom service provider Emirates Telecommunications (Etisalat) has won Iran’s third countrywide mobile licence as part of a consortium with Iran-based Taameen Telecom.

UAE-based telecom service provider Emirates Telecommunications(Etisalat) has won Iran’s third countrywide mobile licence as part of a consortium with Iran-based Taameen Telecom. The latter is owned by the state pension provider Iranian Social Security Organisation. Etisalat has 49 per cent stake in the consortium, which will have to pay an upfront fee of $402 million to acquire the licence in addition to sharing 23.6 per cent of its revenue with the government. Etisalat will be able to operate its network for a minimum of 15 years. It is planning to invest $1 billion for building infrastructure in Iran and is looking to begin operations by the end of 2009.