TELECOMS INVESTMENT CONFERENCE HAS BEEN HELD ON MAY 2016 IN IRAN

Vodafone enters Iranian market

Date of Release : 2016-10-18

Branding for Vodafone is seen on the exterior of a shop in London, Britain, September 10, 2015. REUTERS/Toby Melville

Branding for Vodafone is seen on the exterior of a shop in London, Britain, September 10, 2015. REUTERS/Toby Melville

Vodafone (VOD.L) has agreed a partnership with Iranian internet firm HiWeb to help modernise its network, the companies said on Tuesday, making the British company the latest Western firm to enter Iran after sanctions were lifted.

Vodafone, the world’s second-largest mobile phone company, said the agreement to help modernise HiWEB’s network and IT infrastructure would also benefit its multinational corporate clients when they travel to Iran.

Many European companies have sought to capitalise on the opening up of the region’s second largest economy since U.S. sanctions against were lifted on Jan. 16 after Iran agreed to curtail its atomic energy programme.

With a young population and high levels of mobile ownership, Iran is seen as an opportunity for telecoms companies seeking to expand into frontier markets.

“Vodafone’s corporate customers will get the benefit of quality network services in the country and HiWEB will be able to access Vodafone’s global expertise,” Vodafone Partner Markets Chief Executive Diego Massidda said in a statement on Tuesday.

source: uk.mobile.reuters.com


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