Korek Telecom
 | A major contributor to this article appears to have a close connection with its subject. (February 2017) |
 | |
| Company type | Private |
|---|---|
| Industry | Telecommunications |
| Founded | 2000 |
| Headquarters | Erbil, Kurdistan Region, Iraq |
Key people | Sirwan Barzani (Founder) |
| Products | Telecommunications |
Number of employees | 2500[1] |
| Website | korektele.com |
Korek Telecom (Template:Lang-ckb) 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
- ^ "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
- ^ "A new war in Iraq, now between Shia Arabs and Kurds". The Economist. 16 October 2017.
- ^ Goldstein, Phil (2011-03-16). "France Telecom invests €175m in Iraqi operator Korek". FierceWireless. Retrieved 2013-08-06.
- ^ "Extra G". Korek Telecom.
- ^ "Free Basics". Korek Telecom. Archived from the original on 2016-01-04.
- ^ "White & Case secures US$1.65 billion arbitration award for Iraq Telecom Limited". White&Case.
- ^ "ICC finds Korek liable to pay damages to Iraq Telecom". Developing Telecoms.