Ongoing unrest in Libya and Algeria and the recent political upheavels in Egypt and Tunisia has not changed France Telecom's strategy to invest in Africa and the Middle East, a senior company executive said Monday. “There is no modification to our strategy,” Marc Rennard, executive vice president in charge of Africa, Middle East and Asia told reporters on the sidelines of the Mobile World Congress in Barcelona, reiterating recent comments made by Chief Executive Stephane Richard. France Telecom aims to double its revenue in emerging markets by 2015, partly through acquisitions in Africa and the Middle East. “Of course there is an issue about security but there is no change to our vision of the Middle East and Africa,” Rennard said. He said the growth potential of a market and its regulatory framework are the two key elements the group takes into consideration when deciding whether to invest in a new market in the region. Risk is of course an issue, but not the first criteria when deciding on an investment, he said. The French telecoms giant is constantly examining possible targets in the region, Rennard added, but declined to provide any more details. “We won't go it alone though,” he said, stressing the importance of having local partners in the region. BM
