ORANGE can be bitter, so is KOREK

Benaw Izzat | Exclusive to iKurd.net

ERBIL-Hewlêr, Kurdistan region ‘Iraq’,— What is the relationship between the International Monetary Fund and Korek Telecom?

This is a tough quizz which requires some foreign experience. Before becoming Chairman of the IMF, Mrs Christine LAGARDE was the French Minister of Economy from 2007 to July 2011 and as such supervisor of companies like Areva and France telecom (now Orange) in which the French State owns a strategic stake (87% for Areva and 27% for Orange).

Mrs LAGARDE and Mr RICHARD , Orange CEO, are both indicted in the TAPIE affair, as a former Minister, Mrs Lagarde faced the Court of Justice of the Republic and was indicted for “negligence” while Mr.Richard is indicted for organized fraud.

Mrs LAGARDE could not ignore the so called “Uramin scam” which concerns the national uranium mining company AREVA and which is likely to become the biggest financial scandal of the last 50 years in France. It is certainly a coincidence if all the troubles started in 2007 and ended in 2011 for AREVA. But Mrs Lagarde congratulated and even rewarded Mrs Lauvergeon (AREVA’s CEO at the time) when Uramin takeover took place. The enquiry is going on this huge case which cost billions of euros to the French taxpayers, while Mrs Lauvergeon was sacked in 2011.

At the same period Mr Claude GUEANT was General Secretary of the Presidency, the right harm of the President Sarkozy. He was held for three days in custody as from May 26th 2014 in the TAPIE affair. When France Telecom bought a stake in Korek , all the French investments in Iraq were closely monitored by Claude GUEANT which is a normal procedure for such a risky country.

All this coincidences could finally be of interest for the brand new Financial Public Prosecutor which was created to fight financial scam and corruption in France in February 2014. The Buddhists believe in the red circle, where people who are doomed to meet will meet one day, so does the Kurds:

“ When men, even unknowingly, are to meet one day, whatever may befall each, whatever their diverging paths, on the said day, they will inevitably come together in the red circle.”

Who wants to buy Orange (France Telecom) stake in KOREK ?

On November 12th , Stephane Richard still Orange CEO, announced that his company will remain at 20,2% and will not seek to increase its stake in Korek. Richard will remain a small minority shareholder who invested a lot of money for having the pleasure to become an Iraqi telecom player.

For the potential buyers who would seek to make an offer we suggest to go back to the roots of this investment:

France Telecom Trapped in Kurdistan’s Korek Scam

France Telecom/Agility mysterious joint venture in Korek ‎

France Telecom, Korek scam and the Zain joke ‎

Asiacell, Zain and Korek IPOs in Baghdad: Good for whom?

Korek, Newroztel, the others and the end of game

France Telecom KOREK and The Iraqi Telecom Fruits ‎

Black September for the Iraqi telecom

Asiacell IPO, An Expensive Iraqi Customer

Asiacell, Zain, Korek dreams and reality ‎ 9.6.2013

Can Korek go public?

Iraqi Telecom wonderful world