Orascom Telecom considers France Telecom Deal null & void

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 in French telco.

Orascom said there are no talks under way with France Telecom to conclude the deal.