Day-times during Ramadan are generally lunch-free with faithfuls fasting. But this does not keeps from interesting rumours from being crafted and moving around.
news rumour is that GSM giant Mobilink is/will/might acquire dominant stakes in Cybernet – one of the leading local Internet service providers. While insiders are generally confirming the rumour various details are being provided depending on whom you are talking to.
Cybernet has been a chief provider of Internet services to Mobilink. The dramatic exit of three or four top seat employees of Cybernet last month has created quite a stir in the local market. From employees to customers, there had been wide ranging speculations as well as a general anticipation of more-upsets-to-come. At that time, the sudden changes were attributed to some rift between the higher employed-management and the group financiers.
<rumour-dissection>Mobilink (read Orascom) is certainly focused on diversifying its portfolio. Not only did they create multiple companies to support the core voice operations of Mobilink, the diversification has gone into real-estate purchases, cement industries and even GSM Terminal Support services such as the one offered under brand name of Ring. A deal to acquire top-placed Internet service provider is quite in-line with their strategy. The Intel Capital’s fund aimed towards spreading of the Wimax adoption worldwide (and reportedly sized around $100 million) has gone into various Telecom holding companies including Orascom. Mobilink is one of the darlings of Orascom as compared to its other regional ventures and that significant portion of this fund will go into Mobilink is quite likely. Once Mobilink has a Wimax offering, it will definetly need a platform (license, brand, users, channel sales network etc) to toy with its beyond-the-voice ideas. There couldn’t have been a better choice than Cybernet.</rumour-dissection>
One of the interesting twist that is being associated with the current Ramadan rumour is that the very team that was quit Cybernet in a hurry is coming back now sporting Mobilink’s badges to run the company. Well, if this is true, this is what we can call Dramas in Life!