Thuraya up for sale

The UAE’s broadband and sat-phone operator Thuraya is up for sale. There’s even a prospective buyer lined up in the shape of satellite giant Inmarsat. The problem is the two are very wide from reaching an agreed sale price.

While Thuraya has been on the sales forecourt for some time, the asking price – of some $600 million – has always been too much for any sort of buyer, let alone arch-rival Inmarsat.

Recent days suggest that Thuraya is prepared to compromise its price downward to nearer $300 million, a swingeing discount, but suggestions at last week’s Satellite 2015 show in Washington talk about even $300 million might to be too rich for Inmarsat.

Thuraya CEO Samer Halawi told delegates that its revenues for 2014 were some $140 million, up 14 per cent, and that it had 220,000 telephony subscribers, up 10,000 on 2013’s numbers.

Thuraya offers a service covering the whole of the MEAN/Africa regions, and as far East as Asia and Australia.

You must be logged in to post a comment Login