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User:The MK/sandbox/Yemeni Omani United

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Yemeni Omani United
YOU
Native name
الشركة اليمنية العمانية المتحدة للاتصالات
Formerly
  • Spacetel Yemen
    (2000-2006)
  • MTN Yemen
    (2006-2022)
Company typePrivate
IndustryTelecommunications
FoundedSeptember 2000; 23 years ago (2000-09) in Sana’a, Yemen (as Spacetel Yemen)
Headquarters
Sana’a
,
Yemen
Owner
  • Investcom LLC
    (2000-2006)
  • MTN Group (82.8%)
    (2006-2021)
  • Emerald International Investment LLC (82.8%)
    (2021-present)
Websiteyou.com.ye

Yemeni Omani United (Arabic: الشركة العمانية اليمنية للاتصالات), trading as YOU (formerly MTN Yemen) is a mobile network operator in Yemen. It was established in September 2000 as a local and international joint-stock company and became the second GSM service provider in Yemen[a] under the trade name Spacetel Yemen, which was part of Investcom LLC. In July 2006, MTN Group acquired Investcom LLC, resulting in the rebranding of Spacetel Yemen to MTN Yemen. In 2021, MTN Group announced its exit from the Yemeni market and transferred its majority shareholding to Emerald International Investment LLC, which rebranded MTN Yemen to Yemeni Omani United (YOU) in 2022.[1]

History

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As Spacetel Yemen

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Logo of Spacetel Yemen

The company launched its local mobile service in February 2001, which is after the company was established by months.[2] Before its establishment in September 2000, Spacetel Yemen paid $10 million for its 15-year 900MHz concession in July 2000.[3]

According to the marketing manager of Spacetel at the time, the company’s network covered up to 80% of the population in 2004.[4]

In 2005, Spacetel Yemen signed a contract worth $20 million with Alcatel Mobile to expand and update its network.[5]

As MTN Yemen

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Logo used by MTN Yemen

After completing its rebranding in 2007, MTN Yemen acquired additional frequencies in the 1800MHz band in February 2008.[3]

As YOU

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Rebranding and ownership

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Before its current rebranding, the company operated as MTN Yemen. After MTN Group acquired Investcom LLC for $5.5 billion in 2006,[6] the company's name changed from Spacetel to MTN Yemen. MTN Group held a majority stake in the company from 2006 to 2021. In 2021, MTN Group exited the Yemeni market, transferring its 82.3% stake to Emerald International Investment LLC,[b] a subsidiary of Zubair Investment Center LLC, which had previously held a minority stake in MTN Yemen.

MTN’s exit from Yemen was part of a broader strategy to withdraw from the Middle East, citing profitability concerns, since Yemen contributed only 0.3% to the group EBITDA. MTN aims to focus solely on providing services in Africa.[7]

See also

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Notes

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  1. ^ with the first one being Sabafon
  2. ^ Which is an Omani company, hence why the current name includes "Omani"

References

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  1. ^ "من نحن". Yemeni Omani United. Retrieved 9 July 2024.
  2. ^ "Spacetel Yemen - Spacetel in Brief". spacetelyemen.com. Archived from the original on 16 May 2006. Retrieved 12 July 2024.
  3. ^ a b Leins, Tom. "How MTN Hung Up on the Middle East". blog.telegeography.com. Retrieved 2024-07-15.
  4. ^ Willems, Peter (2004-06-13). "Spacetel: always on the move". Yemen Times archives. Retrieved 2024-07-22.
  5. ^ Al-Mayyasi, Yasser Mohammed (2005-03-10). "Spacetel to upgrade network". Yemen Times archives. Retrieved 2024-07-22.
  6. ^ "MTN in $5.5bn agreed takeover of Investcom". Financial Times. 2006-05-02. Retrieved 2024-07-15.
  7. ^ "MTN Group progresses with the simplification of its portfolio with exit from Yemen". MTN Group. 18 November 2021. Retrieved 9 July 2024.
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