Orascom Eyeing Small Acquisitions, but won’t Sell any Subsidiary

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) but we are talking about tens of millions or hundreds of millions,” he said without elaborating on possible targets.

He also said there was no reason to sell any Orascom Telecom assets to repay debts.

“We succeeded in restructuring all our debt and this is the global financial community’s testament to the seriousness of Weather and our capability to always fulfill our obligations. So there is no reason to sell any assets,” he further elaborated.

Via Reuters