Russian firm Altimo said on Sunday it had no plans to launch a new offer to buy out minority shareholders in Orascom Telecom (OTH) after Egypt's regulator rejected its attempt to reopen its earlier tender.
Orascom Telecom, a h
Egypt's Orascom Telecom (OTH) is closer to being delisted, sources said yesterday, after holders of around 10 per cent of its stock agreed to be bought out.
Russia's Altimo, the biggest owner of OTH's parent Vimpelcom,
Russian billionaire Mikhail Fridman's Altimo launched on Tuesday an offer to buy out minority shareholders in Egypt's Orascom Telecom for around $1.8 billion.
Egypt's stock exchange said in March that a Cyprus-based fi
Egypt-based Orascom Telecom is set to assume full control of Wind Mobile, the fourth-largest wireless carrier in Canada with some 600,000 subscribers, as the company founder Anthony Lacavera plans to step down as chief executive as part of a dea
Weather Investments (WI), a company headed by Egyptain businessman Naguib Sawiris, has launched a $5 billion claim against Algeria for damage to the company's stake in Orascom Telecom Algérie (known as Djezzy).
France Telecom acquired 94 per cent of Egyptian mobile phone company Mobinil in a tender offer, Egypt's stock exchange said on Sunday, giving the French group control of a top sector player in a volatile but lucrative emerging market.
Orascom Telecom, the Egyptian company bought last year by Russia's Vimpelcom, narrowed its losses in the fourth quarter to $83 million compared to a year earlier when it was hit by impairment charges.
The firm posted a loss of $170 million
Shares in Egypt's Orascom Telecom (OT) surged 56 percent on Sunday following an eight-week suspension imposed as the company spun off assets owned by Egyptian businessman Naguib Sawiris.
The purchase by Russi