Korek Telecom

Korek Telecom
Company typePrivate
IndustryTelecommunications
Founded2000; 24 years ago (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.