Egyptian cellphone operator Mobinil would prefer to list more shares on Cairo's stock exchange to meet new ownership rules than sell a bigger stake to a local company, its CEO said on Monday.
France Telecom owns 94 per cent of
Egyptian mobile firm Mobinil hopes to swing back into profit in 2013 after being badly hit by the political turmoil that followed the toppling of President Hosni Mubarak last year, the company said on Thursday.
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.
Egyptian mobile firm Mobinil slumped to a first-quarter net loss of 74 million Egyptian pounds ($12.24 million) due to the costs of switching its network to 3G and said its outlook was uncertain because of political volatility. &n
France Telecom has finalised a deal to buy out most of its partner's stake in Egyptian telecom operator Mobinil for 1.5 billion euros ($1.97 billion).
This will leave the joint venture with 95 percent French ownership but significant
France Telecom reached a preliminary accord to buy out most of Egyptian tycoon Naguib Sawiris' stake in their jointly owned telecom operator Mobinil, in a deal that will see the French group pay out about 1.5 billion euros ($2 billion).
Orascom Telecom Media and Technology said on Sunday it is in talks with France Telecom over the future of their Egyptian joint venture Mobinil.
The Egyptian firm said a decision was expected to come after a Feb. 13 meeting between the comp
Egyptian telecoms magnate Naguib Sawiris said on Wednesday he had no plans to sell shares in Mobinil, a mobile phone joint venture with France Telecom.
Mobinil shares reached their lowest since 2004 this month after the company reported a
Egyptian mobile firm Mobinil is switching focus from market share to boosting revenue per user and hopes to expand data services to make up half its revenue by 2013, its chief executive said.
Analysts estimate data services constitut
Egyptian mobile phone company Mobinil reported a second-quarter net loss as political turmoil following the toppling of President Hosni Mubarak hit tourism and other businesses.
The net loss of 108.5 million Egyptian pounds ($18.2 million