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Naguib Sawiris mulls Poland, Serbia foray

Cairo, July 14, 2010

Weather Investments, the holding company of Egyptian businessman Naguib Sawiris, is considering a move into Poland and Serbia after the success of its mobile operations in Italy, Sawiris was quoted as saying on Wednesday.

Weather, the parent company of Cairo-based mobile phone company Orascom Telecom, owns Italy's number-three mobile operator Wind Telecomunicazioni and Greece's third- biggest operator Wind Hellas.

State-owned al-Ahram also quoted Sawiris, who is Orascom Telecom's executive chairman, as saying Orascom's mobile subscribers would exceed 100 million worldwide by end-2010, with those in Canada exceeding 100,000 and in North Korea 200,000.

Media reports have cited Orascom as a possible bidder for stakes in Poland's Polkomtel and Telekom Srbija.

Weather has invited bids for the sale of Wind Hellas, which is restructuring its debt for the second time in less than a year.-Reuters




Tags: Egypt | Telecom | IT | Weather Investments | Naguib Sawiris |

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