DPRK-Oracsom mobile phone deal update

From Reuters

[Naguib Sawiris, CEO] said he was “astonished” how quickly the North Korean authorities wanted the service to start and he had high hopes for business in the country.

“We firmly believe that in the next three or four years we will be having a couple of million subscribers there and we will be seeing ARPUs in the range of $12 or $15 (a month),” he added.

Sawiris said that of the $400 million the company plans to invest in North Korea over the next three years, about $200 million would probably come in the first year, with $100 million in each of the two subsequent years.

Read the full story here:
Egypt’s OT seeks 100,000 N Korean subscribers from May


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