Orascom, France Tel sign Mobinil accord
Cairo, May 11, 2010
Egypt's Orascom Telecom Holding and France Telecom signed a final deal on to settle a long and often acrimonious dispute over jointly-held mobile firm Mobinil.
The agreement, signed by Orascom executive chairman Naguib Sawiris and new France Telecom chief executive Stephane Richard, alters the way both firms report Mobinil's earnings on their books and gives the French company more say in choosing Mobinil's executives.
The companies said on April 14 they reached a broad deal to end their battle over control of Mobinil. – Reuters