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Orascom Telecom to raise capital to $2.4bn

Cairo, March 28, 2011

Egypt's Orascom Telecom said on Monday it was seeking to raise its capital to 14 billion Egyptian pounds ($2.35 billion) from 7.5 billion pounds and that planned to divide the company into two.

The company had agreed earlier to merge many of its assets with Vimpelcom.-Reuters




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