Rightel CEO: We Do Not Want to Be a Smaller Version of Irancell and Hamrah-e Avval

The press conference of Rightel Communication Services’ CEO was held on 20 Mehr with the presence of media representatives at the company’s headquarters.

Mehdi Faqihi says that Raitel follows a different path compared to its two big competitors by focusing on industry and smart government services and infrastructure sharing.

Raitel seeks to change the field of competition; Mehdi Faqihi, the CEO of this operator, announced in a press conference today (October 20): "We don't want to be a smaller and miniature version of Irancell and First Companion; We want to create a competitive advantage and create value." This press conference was held after last week the news of Wrightel being put up for auction was published.

Some attributed the decision to sell shares of Rightel to bankruptcy, but the CEO of this operator previously denied the issue of bankruptcy. Now Faqihi explained in his press conference that Raitel plans to take a different strategy and path.

According to his explanation, Rightel's new strategy focuses on three areas of improving network quality and customer experience, developing services for industry and smart government, and reforming the operator's economic model. According to him, in addition to the services of general subscribers, Raitel pursues the business market more seriously, and for the development of the network, it also goes towards the joint use of the infrastructure of other operators.

In this context, Faqihi announced the activation of 5G services for subscribers in less than a month and the design of dedicated fifth generation network projects for industries. Faqihi also emphasized that the process of handing over shares will not stop the current services and development plans of Rightel.

The transfer of shares does not stop the current programs

Faqihi did not consider the change of shareholder to be the end of the activity or the cause of the suspension of Rightel and said that the entry of a shareholder with financial power, competence and plan can increase the speed of the company's growth.

The CEO of this operator separated the transfer responsibility from the executive management and explained that the sales process is in the hands of Shasta. According to Faqihi, Rightel is looking for a shareholder who, in addition to financing, will also strengthen the connection with the market and business opportunities.

He said that Rightel's placement in the value chain of a bank or industrial complex can create benefits for both parties. Faqihi said about the effect of handover on the development plans: "Whether Rightel is handed over or not, we will follow our own plan. "There will be no disruption in the implementation of the current service programs and the transformation plan."

According to Faqihi, after the arrival of the new shareholder, the plans may change according to its policies and opinions.

Explanation about pricing and possibility of purchase by competitors

In response to a question about the base price of the transfer, the CEO of Raitel said that first a valuation company did the evaluation in the Shasta Group and after the approval in the Shasta Board of Directors, the matter went to the Board of Directors and then the Social Security Board of Trustees. According to him, the valuation has changed in the last two stages.

In response to a question about the possibility of buying Rightel by Babak Zanjani, Faqihi emphasized the need to adhere to the legal framework of the auction and considered the examination of applicants' qualifications as one of the duties of the regulatory bodies. He said:

We welcome every shareholder who meets the conditions of the auction, has a plan and can inject smart capital into Rightel. Names are not important to us; The circumstances of the individual or the company are important.

The CEO of Raitel did not confirm Zanjani's presence in the purchase process and said that Shasta can answer the questions related to the handover more precisely.

The promise of 5G activation and the finalization of the network subscription contract

In another part of this meeting, Mehdi Faqihi said that this operator is following the use of the fifth generation in the two markets of general subscribers and industry. According to him, the interoperator cooperation agreement to provide services to public subscribers is about to be finalized.