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France Telecom Buyout In Egypt To Cost $2bn
Published Feb 19, 2012
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France Telecom may spend around $2bn to buy most of Egyptian billionaire Naguib Sawiris' stake in their MobiNil venture and delist the operator. Sawiris plans to retain a 5% 'economic interest' in the Cairo-based operator, France Telecom said Friday. Orascom holds a 20% stake in MobiNil, while about 29% is traded on the Cairo stock exchange. The holding company controlled by France Telecom and Orascom owns the rest.
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VMD - [Virtual Marketing Department]
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