OTMT and France Telecom discuss Mobinil's fate

OTMT is in talks with France telecom about a change of ownership for Mobinil
Orascom is in talks with France Telecom about a change of ownership for its joint venture Mobinil.
Orascom is in talks with France Telecom about a change of ownership for its joint venture Mobinil.

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Orascom Telecom Media and Technology announced on Sunday that it was in talks with France telecom about a change of ownership for its Egyptian JV Mobinil.

Orascom has said that a decision is expected after a meeting today between the two companies. The company’s shares have been suspended at the Egyptian stock exchange, and will remain so until a joint statement is issued on the future of Mobinil.

Mobinil is part of France Telecom’s effort to create a footprint in high growth emerging markets, as it faces tough competition in its home market. The company owns a 71.25% controlling stake in Mobinil Telecoms SAE.
 

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