Telecom service provider Orange will increase its stake in Egyptian Company for Mobile Services (Mobinil) from around 94 percent to nearly 99 percent for €209.6 million by purchasing rights from Orascom Telecom Media and Technology.
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Mobinil, a leading telecom operator in Egypt, had 33 million customers and recorded 4 percent year-on-year growth in revenues in Q3 2014.
The strategy of Orange is to strengthen its telecom presence in Africa and the Middle East. For Orange, Egypt is one of its most important assets in the region and its largest market in terms of customers.
Orange has a customer base of 244 million customers worldwide at 31 December 2014, including 185 million mobile customers and 16 million fixed broadband customers.
editor@telecomlead.com
