Mobile telecoms is a sellers’ market and Orascom Telecom is interested in any asset for sale, in any geography, its Executive Chairman Naguib Sawiris said. “If you ask me what are you interested in, I would tell you any mobile asset regardless of the geography,” Sawiris told Reuters at the Mobile World Congress in Barcelona. Orascom...
The rating on Mobilink’s parent, Orascom Telecom, was placed on CreditWatch with positive implications on the company’s plans to raise $800 million through a rights issue. “We have placed the ‘CCC+’ rating on Mobilink on CreditWatch with positive implications in line with the rating action on Orascom Telecom,” S&P...
Standard & Poor’s Ratings Services has lowered the corporate credit rating and long-term senior unsecured debt rating on Pakistan Mobile Communications (Mobilink) to ‘CCC+’ from ‘B-’. The outlook on the corporate credit rating is negative. The B- rating was described “Highly Speculative”, while the new CCC+...
Orascom Telecom may seek an opportunity of owning a bank in Pakistan, reported Total Telecom, citing Naguib Sawiris, Executive Chairman, Orascom. “We wanted to buy a bank in Pakistan, but we didn’t succeed because our price came second. We are continuing and we might replace this bank by getting a microfinance license. This license will...
Orascom Telecom has reported its third-quarter net income more than doubled as customer numbers climbed. Orascom Telecom posted a net profit of $180.9 million for the quarter compared to a previously stated $69.4 million in the same period of 2008, beating the forecast. Subscribers rose 12.1 percent year-on-year to 89 million. Revenues declined slightly...
Orascom Telecom Holding (OTH) has announced the restructuring of its organization, as Mr. Khaled Bichara becomes Group Chief Executive Officer reporting to Mr. Naguib Sawiris, the Company’s Executive Chairman. Mr. Sawiris will continue to be directly involved by having overall responsibility in the business with Orascom Telecom Algeria. He will also...
Orascom Telecom is looking at “small” acquisitions and not deals worth billions of dollars, said Naguib Sawiris, Chairman and CEO of Orascom Telecom, while speaking to Al-Arabiya satellite television, reported Reuters. “We are still making acquisitions and looking at things but they are all small things not worth billions (of dollars)...
Mobinil, Telecom Egypt and Vodafone Egypt have submitted their respective bids to acquire Link Egypt, Broadband unit of Orascom Telecom. According to OT’ CEO, Khaled Bichara, two other unnamed firms have submitted bids before the deadline, which may include Etisalat, as perceived by analysts. Orascom had announced in February 2009 to sell out 100...
Orascom Telecom posted a 66 percent drop in first quarter net profit to $72 million. Orascom, headed by Egyptian billionaire Naguib Sawiris, said its net revenue dipped 4 percent to $1.197 billion, citing currency devaluations versus the U.S. dollar in key markets. Financial statement released by the company showed that Mobilink’s customer...
Orascom Telecom will spend this year cutting costs and focusing its investments into new networks in Africa, Canada and North Korea, says Aldo Mareuse, the chief financial officer. Competition with bullish government-backed operators from the Gulf had pushed Orascom, Egypt’s largest public company, to be more alert and disciplined, he said. “It...
The Egyptian operator Orascom Telecom deeming the deal of selling the part of shares in MobiNil to France Telecom as null and void after the French incumbent failed to meet the deadline. France Telecom has been unable to complete the transfer of funds on time, making the court’s ruling null and void, which had ordered Orascom to transfer its stake...
Orascom Telecom Holding (OTH) has reported a 76 drop in full-year net profit to US$431 million, after one-off gains a year ago were stripped out. Excluding the one-offs, which had included the sale of its operations in Indonesia and Iraq, the firm posted a 7 percent rise in its full-year results. Full-year revenues rose by 13% to US$5.33 billion while...
Standard & Poor’s Ratings Services has lowered its long-term corporate credit ratings on Orascom Telecom Holdings and Orascom Telecom Finance to ‘B’ from ‘B+’ following weaker growth expectations from its Pakistan- and Bangladesh-based operations. The outlook is stable. At the same time, Standard & Poor’s...
We have been seeing Mobilink losing customers in recent months, hence the revenues too, resultantly; the impact can be felt on overall performance of Orascom, the parent company of Mobilink. Recently, Orascom Telecom (OTH) reported its 3rd quarter, 2008 profit of US$ 90.5 million – down by 28% compared to same period last year – while revenues...
Pakistan Mobile Communication Limited has requested Pakistan Telecommunication Limited to transfer licenses of its affiliated companies that includes, Dancom Online, World Online, Link Direct, Mobilink, Intouch etc. A very reliable source while confirming this news told that in addition to license transfer requests, PMCL has requested authority to grant...
