 | |
| Type | Private |
|---|---|
| Industry | Telecommunications |
| Founded | 2000 (2000) |
| Headquarters | Erbil, Kurdistan Region, Iraq |
Key people | Sirwan Barzani (Founder) |
| Products | Telecommunications |
Number of employees | 25001 |
| Website | korektele.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 launched4 3G in Iraq after winning one of the three 3G licenses awarded by the government of Iraq.
On Dec 16, 2015, Korek became the first operator in Iraq to launch Free Basics5 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
References
References
- "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
- "A new war in Iraq, now between Shia Arabs and Kurds". The Economist. 16 October 2017.
- Goldstein, Phil (2011-03-16). "France Telecom invests €175m in Iraqi operator Korek". FierceWireless. Retrieved 2013-08-06.
- "Extra G". Korek Telecom.
- "Free Basics". Korek Telecom. Archived from the original on 2016-01-04.
- "White & Case secures US$1.65 billion arbitration award for Iraq Telecom Limited". White&Case.
- "ICC finds Korek liable to pay damages to Iraq Telecom". Developing Telecoms.