Korek Telecom Explained

Korek Telecom
Type:Private
Key People:Sirwan Barzani (Founder)
Industry:Telecommunications
Products:Telecommunications
Num Employees:2500[1]
Location:Erbil, Kurdistan Region, Iraq

Korek Telecom (کۆڕەک تیلیکۆم) is an Iraqi Kurdish mobile phone operator 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

Notes and References

  1. Web site: Agility Press Release . 2016-05-14 . dead . https://web.archive.org/web/20160514152452/http://www.agilitylogistics.com/PressReleases/Pages/FranceTelecom-OrangeandAgilitytoacquire44stakeinKorekTelecom.aspx . 2016-05-14 . France Telecom-Orange and Agility to acquire 44% stake in Korek Telecom
  2. News: A new war in Iraq, now between Shia Arabs and Kurds. The Economist. 16 October 2017.
  3. Web site: Goldstein . Phil . France Telecom invests €175m in Iraqi operator Korek . FierceWireless . 2011-03-16 . 2013-08-06.
  4. Web site: Extra G . Korek Telecom.
  5. Web site: Free Basics . Korek Telecom . dead . https://web.archive.org/web/20160104092020/http://www.korektele.com/services/data-offers/freebasics-com . 2016-01-04 .
  6. Web site: White & Case secures US$1.65 billion arbitration award for Iraq Telecom Limited. White&Case.
  7. Web site: ICC finds Korek liable to pay damages to Iraq Telecom. Developing Telecoms.