Korek Telecom

In this article the topic of Korek Telecom will be addressed from a broad and enriching perspective. The relevance of Korek Telecom in different contexts will be analyzed, as well as its impact on current society. Throughout the text, different approaches and points of view on Korek Telecom will be explored, with the aim of providing a comprehensive and enriching vision on this topic. In addition, relevant data and illustrative examples will be presented that will allow the reader to gain greater knowledge and understanding about Korek Telecom.
Korek Telecom
Company typePrivate
IndustryTelecommunications
Founded2000 (2000)
HeadquartersErbil, Kurdistan Region, Iraq
Key people
Sirwan Barzani (Founder)
ProductsTelecommunications
Number of employees
2500[1]
Websitekorektele.com

Korek Telecom (Sorani Kurdish: کۆڕەک تیلیکۆم) is an Iraqi telecommunications company in Erbil, Kurdistan Region.[2]

In March 2011, France Télécom (now Orange S.A.) acquired a 20% indirect stake in Korek Telecom.[3]

On Jan 1, 2015, Korek launched[4] 3G in Iraq after winning one of the three 3G licenses awarded by Government of Iraq

On Dec 16, 2015, Korek became the first operator in Iraq to launch Free Basics[5] in Iraq in partnership with Internet.org and Facebook.

In March 2023, the company was implicated in a major corruption scandal and found guilty of bribing regulators, self-dealing, diversions of corporate assets, sham loans, and other illegal schemes.[6]

Fraud and corruption

In March 2023, Paris-based International Court of Arbitration found Korek and its founder and controlling shareholder Sirwan Barzani guilty of ‘fraud and corruption’ and awarded $1.65 billion in damages to Iraq Telecom Limited, a joint venture of Kuwaiti company Agility and French Orange Group, and International Holdings.[7]

See also

References

  1. ^ "Agility Press Release". Archived from the original on 2016-05-14. Retrieved 2016-05-14. France Telecom-Orange and Agility to acquire 44% stake in Korek Telecom
  2. ^ "A new war in Iraq, now between Shia Arabs and Kurds". The Economist. 16 October 2017.
  3. ^ Goldstein, Phil (2011-03-16). "France Telecom invests €175m in Iraqi operator Korek". FierceWireless. Retrieved 2013-08-06.
  4. ^ "Extra G". Korek Telecom.
  5. ^ "Free Basics". Korek Telecom. Archived from the original on 2016-01-04.
  6. ^ "White & Case secures US$1.65 billion arbitration award for Iraq Telecom Limited". White&Case.
  7. ^ "ICC finds Korek liable to pay damages to Iraq Telecom". Developing Telecoms.
Wikious
Boobota
Sagapedia