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

  • shall be interesting!!

  • amused

    This statement from Naguib contradicts what he had said just 3 months ago:


    “I don’t think it’s good for me to increase dominance in Pakistan” said Naguib in Nov 2009.

    But now he is interested in any mobile asset.
    Make up your mind Mr. Sawiris. Don’t flip flop.

    • Usman

      It is stupid to advise a businessman not to flip flop. He is not talking about some religion where you cannot change anything.

      [Comment Edited Due to Offensive Language]

  • hmm

    Evry body seems to be interested in Warid…n now finally they can look for a good price:)

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