Orascom Telecom Holding Terminates Discussions with MTN Group
Released on - Thursday,10 June , 2010 -13:06 00
Orascom Telecom Holding S.A.E. announces that it has informed the MTN Group today of its decision to terminate discussions in connection with the sale of certain of its operations as a result of the failure to reach a deal. This follows the failure in talks between the MTN Group and Weather Investments SpA.
About Orascom Telecom
Orascom Telecom is a leading international telecommunications company operating GSM networks in high growth markets in the Middle East, Africa and Asia, having a total population under license of approximately 510 million with an average mobile telephony penetration of approximately 51% as of March 31st, 2010.
Orascom Telecom operates GSM networks in Algeria ("OTA"), Pakistan ("Mobilink"), Egypt ("Mobinil"), Tunisia ("Tunisiana"), Bangladesh ("banglalink"), North Korea (“koryolink”) and Canada (“Wind Mobile”) through its indirect equity shareholding in Globalive Wireless. In addition it has an indirect equity ownership in Telecel Zimbabwe (Zimbabwe) and through its subsidiary Telecel Globe, OTH also operates in Burundi, the Central African Republic and Namibia. Orascom Telecom had just under 96 million subscribers as of March 31st, 2010.
Orascom Telecom is traded on the Cairo & Alexandria Stock Exchange under the symbol (ORTE.CA, ORAT EY), and on the London Stock Exchange its GDR is traded under the symbol (ORTEq.L, OTLD LI).
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