Egypt's Orascom Telecom mulls merger, says Sawiris
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Tue November 17, 2009 10:11 pm

EGYPT. Orascom Telecom Holding SAE, the biggest mobile-phone company in the Middle East, may merge with a competitor by 2011 reported Bloomberg, citing the telco's Chairman Naguib Sawiris.

“We’re looking for same-sized companies,” Sawiris told a media conference in Cairo today. “There are six or seven suitors and we expect to talk to all of them. I will not join a company where I won’t have a majority say. I won’t sell off.”

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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