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France Telecom confirms Mobinil stake increase
France Telecom will increase its ownership of leading Egyptian telecommunications giant Mobinil, both companies announced earlier on Monday. The deal comes after several weeks of discussion with Orascom surrounding the Egyptian telecommunications company’s future. France Telecom agreed to invest €1.5…
Vimpelcom to get $7.8 billion for Algerian unit
According to Emerging Money, Russian telecom giant Vimpelcom has reportedly signed an agreement with the Algerian government for the country’s telecom unit previously owned by Orascom Telecom, which Vimpelcom purchased last year. The deal is being reported to be as…
Vimpelcom sees massive gains in stock value as sale imminent
Investors are whetting their appetites at the possibility of Egyptian telecommunications company Orascom’s Djezzy unit being available for purchase. That optimism continued on Monday and Tuesday in New York, as Russia’s second largest mobile operator Vimpelcom – which purchased Orascom…
Vimpelcom to sell-off Djezzy in Algeria
Telecom group Vimpelcom has agreed to sell its majority stake in the Algerian state operated Djezzy unit, which had been owned by Egypt’s Orascom Telecom. After Vimpelcom purchased Orascom last year, the nationalization of the Djezzy unit sparked controversy. The…
Egypt court blocks Orascom split ruling
An Egyptian court has ruled that shareholders from Orascom Telecom will be forced to wait until December 17 2011 to have a verdict delivered on their attempts to prevent a split within the company. The company was scheduled to be…
Egypt’s Mobinil taps into data services
Mobinil, Egyptian mobile service provider is planning to expand its data services to make up half its revenue by 2013. In addition, Mobinil is planning to switch its focus from market share to boosting revenue per user. “We have reached…
Egypt’s Mobinil net profit to drop 80 percent
AlembicHC has slashed the price target on shares for Egypt’s Mobinil by 21 percent to 103 Egyptian pounds. It comes after reports of lower margins and higher leverage, non-cash charges and taxes. “We expect 2011 net profit to drop 80…
Orascom Telecom demerger delayed
Orascom Telecom Holding, an Egyptian telecommunications company, has delayed its demerger into two smaller companies. The demerger would split the functions of Orascom Telecom Holding in order to create Orascom Telecom Media and Technology Holding SAE. Currently Orascom Telecom Holding reaches over…
Report: Algerian politics could determine telecom sector
Algeria’s telecom sector could be at the whim of the political situation of the country, reported Pyramid Research in a recent statement. They said that the restructured l-Aurorite de Regulation des Posteset des Telecummuncations (ARPT) and the removal of many government controls…
Egypt’s Orascom looks to invest in local sites
Egypt’s leading telecommunications company Orascom Telecom (OT) said in a press statement on Wednesday that it is looking to increase its investment in local enterprises, including content providers. Local Egyptian financial newspaper al-Mal reported that its new affiliate Orascom Telecommunications…
Orascom Telecom wants capital increase
Orascom Telecom, Egypt and the Middle East’s largest telecommunications company in terms of subscribers, asked on Monday for its shareholders to approve an almost double capital increase to 14 billion Egyptian pounds ($2.4 billion) in order to split the company…
Egypt’s Orascom Telecom continues trading surge
Orascom Telecom, Egypt’s largest mobile operator, continued on Sunday its surge on the country’s Stock Market. It was a major catalyst in forcing the bourse to shut down due to trading volumes being too high. The emergency circuit breaker forced…
Egypt telecom merger with Russian carrier approved
A merger that appeared headed for the dumpster was approved on Thursday in the Netherlands by VimpelCom shareholders. The move means Egypt’s Orascom Telecom is set to merge with the Russian carrier’s eastern European operations, adding to the vast network…
MTN regrets not moving on Orascom deal
Phuthuma Nhleko, departing Chief Executive Officer of MTN South Africa, said that he regrets not moving forward on a failed plan to purchase assets from Egypt’s Orascom Telecom. He did add that the deal could return to the table and he…
Egypt’s Orascom extends Lebanon mobile contract
Egyptian telecom firm Orascom Telecom said on Tuesday in a press statement that it had extended its management contract with Lebanese mobile firm Alfa, in a bid to tap a growing market in the region. Orascom Telecom, which has a…
Egypt telecoms to launch Mobile Baby
Egyptian mobile service provider, Mobinil, a subsidiary of Orascom Telecom, in collaboration with Great Connection announced this week a new “Mobile Baby” platform that will deliver sonar images to pregnant women and consulting physicians in the country. Mobile Baby, offered…
