E&, formerly known as Etisalat, a major telecom group based in the United Arab Emirates (UAE), is reportedly looking to begin expansions into new markets in Europe, Asia, and Africa. The firm is also seeking to expand beyond telecoms into new products such as financial technologies in a bid to drive new growth. The company is exploring a new range of possibilities outside of the UAE, including potential fresh joint venture, acquisitions, and listings of subsidiaries – however it still wishes to keep control of all its units. The firm is exploring possibilities in countries in Africa, Europe, and Asia with room for growth, political stability, and strong regulations.
The group split its business into consumer services-centric E& Life and government and business-focused E& Enterprise, while keeping telecom arm Etisalat – believed to be the seventh-largest telco in the world by market capitalization. Growth is expected to accelerate, the firm posted revenue growth of 17% in its E& enterprise last year, while E& grew by 3%.