CAIRO: Phone carrier Orascom Telecom said it had expressed interest in a stake in Brasil Telecom held by Telecom Italia.

In a statement issued on Friday, Orascom – which is headed by Egyptian businessman Naguib Sawiris – said its interest in the stake was in line with its investment strategy.

Shares in Brasil Telecom had risen on Friday on an unsourced report in a newspaper that Orascom might buy a controlling stake.