Saudi Telecom Company Looking to Expand Into N. Africa
The Saudi Telecom Company (STC) is planning to pursue expansion into foreign markets, focusing mostly on North Africa. Currently STC is interested in a branch in Morocco, while continuing efforts into gaining control over the Algerian market, even though the privatization of Algerie Telecom has stalled. STC already has stakes in Turkish, Malaysian and South African telcom systems and is starting operations in Kuwait in less than 2 months. However, in order to continue to lower costs, the company is planning to cut jobs by 14% — approximately 3,000 jobs.
Holly MacGillivray
