Bloomberg News

Orascom to Give Most of Mobinil Sale Proceeds to Shareholders

March 04, 2012

Orascom Telecom (ORTE) Media & Technology Holding SAE said it may distribute to shareholders most of the proceeds from the planned sale of shares that it holds in Egyptian Co. for Mobile Services to France Telecom SA. (FTE)

The sale is expected to be completed in two months, the Cairo-based company said in a filing to the Egyptian Exchange, citing Chief Executive Officer Khaled Bichara. Egyptian Co. operates under the brand Mobinil. (EMOB)

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Alaa Shahine at asalha@bloomberg.net


Hollywood Goes YouTube
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus