M1 Group

M1 Group is a diversified investment holdings group based in Beirut, Lebanon. Its CEO is Azmi Mikati.

The business was created in the early 1980s by Taha Mikati and Najib Mikati, the latter of whom became Prime Minister of Lebanon in 2005, and again in 2011.

It began in the construction sector. During the 1980s it expanded into telecommunications and formed the basis of their flagship company Investcom.

In 2005, Investcom employed more than 5000 people with a presence in ten countries across three continents. Its gross earnings reached $660 million.

When listed on the London Stock Exchange and that of Dubai on 6 October 2005, it had a market capitalization of $3.3 billion and was among the largest companies in the middle east.

In June 2006, the South African company MTN bought Investcom for $5.5 billion, thereby becoming the first mobile phone corporation for the middle eastern market. In 2007, the Mikati brothers founded M1 Group.

Leave a Reply

Your email address will not be published. Required fields are marked *