Thursday 28 March 2024
 
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Orascom Telecom

Orascom Telecom Q1 net profit tumbles

Egypt's Orascom Telecom Media and Technology Holding said on Thursday its first quarter net profit had fallen to E£48.73 million ($5.49 million) from E£373.85 million in the same period of last year. OTMT reported

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Orascom Telecom makes $128m bid for CI Capital

Commercial International Bank (CIB), Egypt's largest listed company, said on Thursday it had received a 1 billion Egyptian pound ($127.7 million) offer from Orascom Telecom for its investment banking subsidiary CI Capital. Ora

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Altimo says no plan for new Orascom offer

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

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Orascom set to be delisted from exchanges

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,

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Orascom Telecom suffers $204m loss in Q1

  Egyptian mobile phone operator Orascom Telecom Holding said on Wednesday it swung to a net loss in the first quarter of 2013, blaming foreign exchange losses and impairment of some assets.

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Orascom Telecom rejects Altimo buyout offer

  Egyptian group Orascom Telecom Holding's management has recommended shareholders reject an offer by a subsidiary of Russian billionaire Mikhail Fridman's Altimo to buy the company for $0.7

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Altimo offers $1.8bn for Orascom minorities

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

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Orascom Tel takes full control of top Canadian firm

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

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Sawiris launches $5bn claim against Algeria

  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). 

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France Telecom buys 94pc of Egypt's Mobinil

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.

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