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.






53%
of mobile telephone advertisements is on a Samsung handset (gross spendings)
Netherlands  |  2014 Q1, Q2, Q3

Calendar   /   Industry Events

27 Oct Twitter Q3 2014
27 Oct Meru Networks Q3 2014
27 Oct Net Insight Q3 2014
27 Oct PMC-Sierra Q3 2014
27 Oct Ooredoo Q3 2014
27 Oct Telecoms Social Network Summit
28 Oct KPN Q3 2014
28 Oct Grameenphone Q3 2014
28 Oct Digital Realty Q3 2014
28 Oct Harris Corporation Q1 2014/25
28 Oct Telio Q3 2014
28 Oct Extreme Networks fiscal Q1
28 Oct T-Mobile US Q3 2014
28 Oct Facebook Q3 2014
28 Oct Internap Q3 2014
28 Oct Synchronoss Q3 2014
28 Oct Inphi Q3 2014
28 Oct Extreme Networks Q3 2014
28 Oct AppliedMicro Q3 2014
28 Oct WIFI World Summit
28 Oct Powering the Cloud
28 Oct Rich Communication 2014
29 Oct Telenor Q3 2014
29 Oct STMicroelectronics Q3 2014
29 Oct Glu Mobile Q3 2014
29 Oct JDSU Q3 2014
29 Oct Arris Q3 2014
29 Oct Peregrine Semiconductor Q3 2014
29 Oct TE Connectivity Q3 2014
29 Oct Myanmar Mobile Services
::: More Calendar Items