Telecoms & IT

A massive transfer in the ownership of Syriatel, one of Syria’s largest companies, occurred last month. After the government reactivated the trading of the company's share in the Damascus Securities Exchange, record-high deals reflected a transfer of ownership in the company. Yet, little information is available on the company's new shareholding structure.
Last month, the Autonomous Administration in North and East Syria announced plans to develop and improve internet services, revealing offers by telecom operators that may start replacing Turkish and Syrian ones. Meanwhile, in Northwest Syria, the Syrian Salvation Government has monopolised internet services. 
Syria’s largest mobile operator, Syriatel, has announced the appointment of a new chairman in a series of changes to the board that mark the end of founder Rami Makhlouf’s ownership of the company, more than a year since he lost control of its management.

Chinese technology giant Huawei has appointed new managers to its subsidiary in Syria, confirming its continued presence in the country despite reports it was considering quitting several years ago.


The past week has seen a stunning succession of decisions, statements, appointments and resignations that illustrate the piling up of government pressure on Rami Makhlouf to silence him once and for all and restructure Syria’s telecommunications sector.


Preliminary results indicate that Syriatel and MTN-Syria maintained their respective shares of the mobile phone market after seeing revenue growth of around 20 percent.


The Ministry of Finance has frozen the assets and bank accounts of MTN-Syria and of several of its board members, a decision that signals that it wants to put pressure on one of the country’s largest companies.