Non-controlling equity interest: Iraq
At end-2016, Iraq had a population of 38.1 million inhabitants (source: GSMA, March 2017). In the third quarter of 2016, the mobile services market totaled 32.3 million users, which resulted in a penetration rate of 84.6% (source: GSMA, March 2017).
In 2011, the Orange group acquired a 20% minoriy stake in the Iraqi operator Korek Telecom, which holds 2G and 3G mobile licenses. The economic conditions changed drastically from June 2014 with the start of the civil war in the northern and eastern parts of the country, with security problems affecting the expenditure and consumption of Iraqi citizens as well as Korek Telecom’s operations. At end-2016, Korek Telecom’s active customer base totaled 7 million customers.
More information on the 2016 Registration Document: 220.127.116.11 Iraq