Etisalat has confirmed that it has submitted a bid for Libya's third mobile phone license in a brief statement to the Abu Dhabi stock exchange. According to Reuters, the company would plan an investment of at least US$500 million if it won the license.
In the statement, the company said that it " has submitted a technical, commercial and financial bid to the Libyan General Telecommunications Authority (GTA) on 15th July 2009 to participate for the Fixed/Mobile Convergent License in Libya"
Libya currently has two mobile networks. According to figures from the Mobile World, Libyana is the dominant operator with 83% of the market, followed by Al Madar. The country has a population penetration level of 134%.
Etisalat has also confirmed that it is looking at taking a majority stake in Kuwait's Zain, which had had been in talks with France's Vivendi over a sale of its African assets.