0
Mobile & Wireless

France Telecom to seek new Egyptian partner for Mobinil

Tuesday 14 April 2009 | 08:42 CET | News
France Telecom has again requested Orascom Telecom to comply with the arbitration award of the International Chamber of Commerce with respect to its acquisition of 28.75 percent of Mobinil and said that when the arbitration award is executed and discussions re-established with the Egyptian authorities, it will seek another Egyptian partner to pursue the growth of ECMS. ECMS is the 51 percent Mobinil subsidiary operating under the Mobinil brand. The French operator, which is increasing its stake in the parent company from 71.25 to 100 percent for EUR 530 million, called on Orascom to cease its media attack to re-establish a calm environment for constructive discussions with the Egyptian authorities. Whereas Orascom was seeking to extend until 15 April the deadline for transferring the shares, France Telecom is insisting that Orascom will have to pay a USD 50,000 daily penalty starting on 10 April until it removes the pledge of the shares to its creditor banks and completes the transfer. France Telecom said that once Orascom Telecom has complied with the arbitration award, the French group will re-establish discussions with the Egyptian authorities to make a fair offer to ECMS's minority and individual shareholders.

Categories: Mobile & Wireless
Companies: France Telecom / MobiNil / Orascom Telecom
Countries: Egypt
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.






67
active virtual mobile brands in NL
Netherlands  |  2014 Q3

Calendar   /   Industry Events

28 Jan Qualcomm fiscal Q1
28 Jan Extreme Networks fiscal Q2
28 Jan Fortinet Q4 2014
28 Jan STMicroelectronics Q4 2014
28 Jan Shoretel fiscal Q2
28 Jan TE Connectivity Q4 2014
28 Jan TMT Finance & Investment ASIA 2015
28 Jan 4G Mobile Vas India Summit & Expo 2015
29 Jan TeliaSonera Q4 2014
29 Jan NEC fiscal Q3
29 Jan NTT Docomo fiscal Q3
29 Jan Nokia Q4 2014
29 Jan JDSU Q4 2014
29 Jan Riverbed Technology Q4 2014
29 Jan Google Q4 2014
29 Jan Rogers Q4 2014
29 Jan Time Warner Cable Q4 2014
29 Jan Broadcom Q4 2014
29 Jan Harmonic Q4 2014
29 Jan LG Electronics Q4 2014
29 Jan Samsung Electronics Q4 2014
29 Jan Alibaba Q4 2014
29 Jan DSP Group Q4 2014
29 Jan PMC-Sierra Q4 2014
29 Jan Lantronix fiscal Q2
29 Jan Aviat Networks fiscal Q2
30 Jan BT fiscal Q3
30 Jan Tele2 Q4 2014
30 Jan Elisa Q4 2014
03 Feb Iran Telecoms and IT Global Summit 2015
::: More Calendar Items