Word: iraqna
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...nearest competitor, which led to the creation of an operator called Djezzy. Soon he had turned Orascom's $400 million investment into an asset worth some $4 billion. Later, in 2003, it was the same story in Iraq: Orascom set up the country's first cell-phone network, IraQna, after the fall of Baghdad. He invested $40 million in IraQna's start-up, which he estimates is now worth $2 billion...
...human cost has been far greater: 11 members of IraQna's workforce of 400 have been abducted by terrorists, and two remain missing. Sawiris once shut down IraQna for a couple of days to compel the release of some of his employees. Insurgents, he explains, don't like to be without service. And IraQna has turned out to be a relatively safe bet financially compared with Orascom's adventures in Syria and Yemen, where Orascom was muscled out of partnerships in both countries, says Sawiris, with the Arab regimes there affording no protection or legal recourse. That behavior...
...sponsorship strategy has yielded a few early successes. For the soccer team, the N.O.C.I. has inked two-year deals with LG Electronics, a South Korean company; Iraqna, a subsidiary of Egyptian conglomerate Orascom; and Bestseller, a Danish apparel company. Each contract is worth between $300,000 and $550,000. The N.O.C.I. has reached out to U.S. companies with less success. A delegation met with Nike and Motorola in April. "It was the pitch from hell," says Hayder al-Fekaiki, director of IraqiSport, a London-based start-up that the N.O.C.I. hired to help negotiate its sponsorship deals. He cited...
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