Etisalat set to purchase majority stake in Korek Telecom (Iraq) UAE-based Emirates Telecommunications Corporation (Etisalat) is in the process of purchasing a majority stake in Iraq-based operator Korek Telecom. The move is a part of the company’s plans to expand into six markets in the Middle East and North Africa –? Iraq, Libya, Lebanon, Oman, Syria and Morocco –? where penetration levels are low. Etisalat first expressed an interest in buying a 51 per cent stake in Korek for $1 billion in October 2008. L
