Orascom Telecom Holdings has formed a joint venture (JV) with raq’s Korek Telecom to offer wireless services in Iraq.

Orascom Telecom Holdings has formed a joint venture (JV) with Iraq’s Korek Telecom to offer wireless services in Iraq. Th JV will combine Korek, which operates in the northern region of Iraq, and Orascom’s Iraqi operation Iraqna, which operates in the central and southern regions of the country. According to the JV, Orascom will hold 70 per cent stake and Korek 30 per cent. The combined entity is valued at $2.2 billion, and wil have 4 million subscribers, giving it a market share of ove 40 per cent.