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 percent stakes of Link Egypt, in order to focus on primary Telecom business.
Earlier reports had clued that Link Dot Net Pakistan will be part of this sale out; however, strategic merger of Link Dot Net and Infinity contradicted the phenomenon.
Bichara said five firms had already completed due diligence on Link Egypt, and that OT and consultant EFG-Hermes would begin examining the bids.
Via Wireless Federation