France Telecom has agreed to buy the majority of the personal stake owned by Egyptian billionaire Naguib Sawiris in Mobinil. Sawiris is executive chairman of Orascom Telecom, which maintains a stake in the mobile operator.
The Egyptian Government has brokered a deal between France Telecom and Egyptian entrepreneur Naguib Sawiris’ operator Orascom Telecom that will see the two firms remain partners in leading Egyptian carrier EMCS, which operates under the brand Mobinil
Egypt’s financial regulator has granted approval for the purchase of the stake it doesn’t already own in the country’s leading carrier Mobinil by France Telecom’s Orange. For some time the deal has been the subject of a spat between France Telecom and Mobinil’s other principal shareholder, Egyptian player Orascom Telecom.
Egyptian carrier Orascom Telecom said Sunday that it has dropped court proceedings against France Telecom over the long running spat involving Egyptian mobile operator Mobinil.
European carrier France Telecom said Sunday that it has secured commitments from minority shareholders to acquire yet more of leading Egyptian mobile operator Mobinil.
Egyptian carrier Orascom Telecom has rejected yet again an offer from France Telecom to buy out minority shareholders in leading Egyptian mobile operator Mobinil.
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The struggle for control of Egyptian mobile carrier Mobinil became more heated over the weekend after Orascom failed to transfer its holding in the company to France Telecom.
France Telecom has taken full control of Egyptian mobile carrier Mobinil, after settling a lengthy legal dispute with local operator Orascom Telecom and shelling out Eur530m for Orascom’s holding in Mobinil.
The number of prepaid mobile subscriptions in the Middle East crossed the 100 million mark in the second quarter, reaching 101.7 million at the end of June. Prepaid services continued to dominate in both the Middle East and Africa, with a combined 321.55 million subscriptions at the end of June, accounting for 84.46 per cent [...]
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