OT completes Tunisiana stake sale to Qtel

Nieuws Mobiel Tunesië 5 JAN 2011
OT completes Tunisiana stake sale to Qtel
Orascom Telecom announced that it has completed the sale of its entire shareholding in Orascom Tunisia and Carthage Consortium (Carthage), two companies through which OT owns 50 percent of Tunisiana, to Qtel. As previously announced in November, the transaction is for a total cash consideration of USD 1.2 billion and it corresponds to an enterprise value equal to 6.7 times Tunisiana's 2009 EBITDA and generates over 40 percent annual return on OT's investment in the business since 2003. The Egypt-based operator said the proceeds will be used to strengthen OT's liquidity position and support the development of higher-growth businesses.

Categories:

Mobiel

Companies:

Orascom Telecom,  Qtel,  Tunisiana

Countries:

Tunesië

Tags:

Voice services, Wholesale, M&A buyouts & divestments

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