Orascom has finally announced its intention to sell its internet arm, LINKdotNet to Mobinil – an Egyptian Company for Mobile Services. The offer was approved by the ECMS Board of Directors on February 20, 2009.
This sellout of Link Dot Net will include internet operations in all countries including Pakistan, where Link Dot Net is operating.
Mobinil is the largest operator in the market, and according to figures from the Mobile World database, has a market share of around 48%.
Link Dot Net Pakistan will also go with LinkDotNet global entity, meaning that Link Dot Net Pakistan will be controlled by Mobinill after this sale-out.
When speaking with a top level official at Link Dot Net (Pakistan), he confirmed us that the evaluation is under process and Link Dot Net Pakistan will be handed over to Mobinil if deal gets matured.
Update: However, in a recent communication with Link Dot Net PK Spokesperson, she ruled out any chances of LDN PK’s link with this sale-out. She clearly said that LDN PK is true subsidiary of Orascom and will not be sold out with its global internet operations.
At the same time, we may need to look at official press release of Orascom offering LDN for Sale – it says “The sale of LINKdotNet to ECMS represents another key step in the implementation of our stated strategy to dispose of our non-core assets and focus on our GSM businesses.”
It merits mentioning here that Pakistan Mobile Communication Limited (PMCL) had requested Pakistan Telecommunication Limited to transfer licenses of its affiliated companies that includes, Dancom Online, World Online, Link Direct, Mobilink, Intouch etc. to their respective individual licenses.
We are still waiting for any announcment regarding speculated sale out of Mobilink’s 26 percent shares!