Ivestcom Holding is a leading Middle East mobile phone company that formerly ran Lebanon’s now defunct Cellis network. The company, established in 1982, has interests in Yemen, Syria and Cyprus. It owns a group of companies with telecoms operations in Africa, Europe and the Middle East, including a stake in one of Syria’s two mobile telephone operators.

In total the company has more than 3.3 million mobile phone customers in sub-Saharan Africa and Arab countries.

Investcom’s operations are in countries where mobile phone use is very low, but where, with gradually improving prosperity, can be expected to grow fast. In many cases, there is no fixed-line telecoms network to compete against, and the main issue is boosting familiarity with mobile phone handsets.

Investcom listed on the Dubai and London stock exchanges in September 2005. Mikati and his brother shared a US$370m cash windfall after they floated their mobile telecoms in London, which is valued at US$3.3bn. The issue of shares was up to 10 times oversubscribed.

Although the mobile telecommunications operations generated 93% of the group’s 2005 consolidated gross revenues, Investcom also provides international carrier services principally through Med Net, its subsidiary in Monaco. Investcom also provides fixed telephony services in the United Kingdom and telecommunications engineering and consulting services.

Mikati served as minister of public works and transport for six years in Lebanon during the premiership of Rafik Hariri who was assassinated on February 14, 2005. He was appointed prime minister-designate in 2005 as Lebanon prepared itself for free elections after the withdrawal of Syrian troops. Mikati won the nomination of the country’s 128-member parliament and was first elected to parliament in 2000.