Mobinil completes LinkDotNet acquisition

News Broadband Egypt 5 JUL 2010
Mobinil completes LinkDotNet acquisition
Egyptian mobile operator Mobinil's shareholders approved the USD 130 million purchase of two internet assets from major shareholder Orascom Telecom. Mobinil will acquire LinkDotNet and Link Egypt to add fixed-line internet to its mobile data and voice offerings. Chairman Alex Shalaby said that the purchase could be immediately incorporated into Mobinil. LinkDotNet's fixed-line internet service competes against market leader TE Data, the ISP arm of Telecom Egypt. Link Egypt provides the infrastructure for LinkDotNet. LinkDotNet's CEO Karim Beshara estimated the firm's market share at 30 percent for DSL and 40 percent for dial-up internet. Orascom will hold on to Link's non-ISP activities and operations outside Egypt.

Categories:

Internet

Companies:

LinkDotNet,  MobiNil,  Orascom Telecom

Countries:

Egypt

Tags:

Internet Access, M&A buyouts & divestments

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