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Asiacell renews its license for 20 years
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Economy News - Baghdad:
Qatar Telecom, Ooredoo, revealed that it has renewed its Asiacell license in Iraq for 20 years.
The company said in the quarterly report, seen by the "Economy News", that "in 2019 a subsidiary of the Asiacell group applied to renew the mobile phone license for an additional 5 years, which was approved by the Communications and Media Authority in 2020."
"This led to an increase in the useful life of the license from 15 years to 20 years, and no additional cost has been capitalized, as the authority has not provided the actual amount that will be considered in the following annual quarters."
She noted that at the beginning of the year, Asiacell changed its functional currency from the dollar to the Iraqi dinar.
She emphasized that Asiacell’s revenues during the first quarter amounted to 1.07 billion Qatari riyals ($ 293.9 million).
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