Emerging markets: The balance of power
With subscriber growth increasingly restricted to emerging markets with a huge collective population, the operators able to achieve success in these regions will find themselves among the most powerful in the world. And then they’ll want to go global.
Orascom sells out of Hutchison Telecom
Egyptian carrier Orascom Telecom said Thursday it has reached an agreement to sell its remaining shares in Hutchison Whampoa’s emerging markets unit. Orascom will sell its 14.2 per cent holding in Hutchison Telecommunications International Ltd (HTIL) for around HK$7.5bn ($960m). Hong Kong conglomerate Hutchison Whampoa will re-acquire 9.2 per cent of the stake and a [...]
Weather moves in on Greece
Greek mobile operator TIM Hellas has been snapped up by Orascom head honcho Naguib Sawiris’ private-equity vehicle, Weather Investments, for a hefty Eur3.6bn. Weather bought the third place Greek operator from equity firms Texas Pacific Group and Apax Partners, which initially acquired TIM Hellas from Telecom Italia in June 2005 for Eur1.6bn. The sale price [...]
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