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Mobile Operators to Face Challenging 2009
BANGALORE- Mobile operators in the UAE would face a challenging 2009 as growth of the expatriate population slows down following the economic downturn, EFG-Hermes said.
The investment bank said it remained concerned about the outlook for the telecom sector in the region in 2009, when the impact of the slowdown in population growth fully materialises. It expects total mobile additions in the market to fall to 1 million in 2009 from 2.3 million in 2008. Subscriber growth in the region has been driven mainly by the growth of the expatriate population, noted EFG
EFG-Hermes, however, maintained its short-term “accumulate” and long-term “buy” ratings on
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