ArabianBusiness.com - Middle East Business News
Tuesday, 24 November 2009 02:52 UAE time

YOUR DIRECTORY /

| Share |

Orascom to make French bid - report

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Tuesday, 21 July 2009
ORASCOM TELECOM: Egyptian mobile operator said to be eyeing 3G license in France. (Getty Images)
ORASCOM TELECOM: Egyptian mobile operator said to be eyeing 3G license in France. (Getty Images)

Orascom Telecom, the Middle East’s biggest mobile-phone company, saw its share price climb to a one month high Tuesday following news it may consider teaming-up with a partner to pitch for a 3G telephone license in France.

Orascom head of investor relations Stefano Songini did not elaborate beyond comments made by CEO Naguib Sawaris in an interview published by French newspaper Le Figaro, news agency Bloomberg reported.

The possible initiative comes after recent news emerged that Vodafone Egypt is bidding for Orascom’s internet LinkDotNet unit.

Local Egyptian newspaper Al-Masry Al Youm claimed that Vodafone will be competing against unnamed financial institutions, as well as Telecom Egypt and Mobinil, which is partly-owned by Orascom.

Story continues below ↓
advertisement

Orascom CEO Naguib Sawiris revealed it would be sold to the contender with the highest bid.

Mobinil has been the centre of an ownership row between its two main shareholders, Orascom Telecom and France Telecom since 2007, with an arbitration court recently ruling that Orascom should sell its stake in a holding company that owns 51% of Mobinil to France Telecom. Orascom also has its own, direct 20% stake in Mobinil.

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST TECHNOLOGY

  1. du announces roaming rates for hajj pilgrims
  2. Talks on to bring iTunes, Amazon services to UAE
  3. Cyber attacks hit almost 60% of Mideast businesses
  4. Qtel set to sign deal to allow ATM bill payments
  5. Vodafone Qatar sees 100% coverage by end of 2009

TOP MIDDLE EAST BUSINESS STORIES

  1. Shell delays Qatargas4 project by a year
  2. 'Worrying' diabetes tests raise doubt on UAE's health
  3. Accor opening two new ibis hotels in region
  4. First UAE arthouse cinema opens in Dubai Mall
  5. Abraaj Capital issue is fully subscribed

ALSO IN MIDDLE EAST TECHNOLOGY

  1. Zain boss named CFO of the Year at Dubai awards
  2. Why I h8 junk txts
  3. Microsoft steps up UAE anti-piracy raids
  4. Yahoo! Maktoob aims to double users in two years
  5. Be our guest

LATEST MIDDLE EAST BUSINESS NEWS

  1. Energy: Shell delays Qatargas4 project by a year
  2. Construction & Industry: Abyaar and Lacroix to build Dubai residential tower
  3. Travel & Hospitality: Gulf Air unveils strategy to save $2.65bn over five years
  4. Travel & Hospitality: Accor opening two new ibis hotels in region
  5. Banking & Finance: Abraaj Capital issue is fully subscribed

SHARE PRICE CHECK

RELATED STORIES

Mobinil
| 21 stories
  1. Egypt's Mobinil Q2 net jumps 26%, beats forecasts
    28 Jul '09 | News
  2. Beltone upbeat about Q2 numbers in Egypt
    22 Jul '09 | News
Orascom Telecom Holding
| 94 stories
  1. 16 firms buy Egypt telco licence bid docs
    28 Oct '09 | News
  2. Mobinil says lending restricted by Orascom link
    27 Oct '09 | News
  3. Orascom won't bid for fourth French 3G licence
    12 Oct '09 | News
Vodafone Egypt Telecommunications
| 16 stories
  1. Egyptian mobile phone growth to slow - analyst
    11 May '09 | News
  2. Chief of Vodafone Egypt moves on
    7 Apr '09 | News

RELATED LINKS

  1. Orascom Telecom Holding»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Mobinil

  2. Orascom Telecom Holding

  3. Vodafone Egypt Telecommunications

  4. Technology


CURRENCY CONVERTOR

Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. Dubai developers see negative press reports decline 07
    23 Nov ' 09 at 20:40
    Someone just said she'll never invest again in Dubai, that's because you don't have anything to invest anymore. Your impetuosity proved...   More  »
  2. Why I h8 junk txts 06
    23 Nov ' 09 at 22:23
    I have to disagree with the comment about junk mail in the UK. We registered with the Mail Preference Service (and Phone Preference...   More  »
  3. Fewer drivers killed on Dubai roads last year 04
    23 Nov ' 09 at 15:21
    Hi Mick, can I make a suggestion. If you travel with someone, then let him video this driver with your mobile. You can pass that onto...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY