Orascom Interested in any Asset on Sale

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 currently operates in countries such as Algeria, Tunisia, Pakistan, Egypt, Bangladesh, Zimbabwe, North Korea and Canada.

In Pakistan, Sawiris said he expects to see consolidation this year because companies are not making money.

“We are open to be a party to that (consolidation), be a consolidator,” Sawiris said.

Despite Swaris talked more in general, still this is first time that Orascom has shown its interest for investing in Pakistan, after the group had decided to hold investments in the region.

Via Reuters