Orange to increase stake in Mobinil to 99% for €209.6 mn

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.

See live coverage of Mobile World Congress 2015

Mobinil, a leading telecom operator in Egypt, had 33 million customers and recorded 4 percent year-on-year growth in revenues in Q3 2014.

Orange

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

Latest

More like this
Related

Telia accelerates renewable energy drive with solar-powered mobile network

Telia is strengthening its commitment to sustainability by embedding...

Pilar Lopez to join Vodafone as Chief Financial Officer from 2025 December

Vodafone Group has announced the appointment of Pilar Lopez...

Optus faces $100 mn penalty for unconscionable sales to vulnerable consumers

Optus Mobile, Australia’s second-largest telecommunications provider, has admitted to...

Who’s Stijn Bijnens, the new CEO of Proximus Group?

Proximus Group has named Stijn Bijnens as its new...