Global Telecom recorded net profits of $87.5m during Q1 of 2016, compared to net losses of $54.7m during the same period of 2015. This occurred despite a decline in income to $707.1m compared to $718.8m during the same period last year
Cairo based Meivo International sells 51% of its stake to Saudi SPIMACO
Egyptians controlled 83.96% of the value traded during the quarter, EGX report noted
Reuters – Egypt’s Global Telecom Holding said on Monday its Bangladeshi subsidiary Banglalink Digital Communications Limited issued Bangladesh’s first international bond. Banglalink, wholly owned by Global Telecom, has priced a five-year $300m bond with the coupon at 8.625%, Global Telecom said in a statement. The transaction is expected to close on 6 May. “The notes …
Reuters – US-based data centre firm Switch SUPERNAP has set up a joint venture with specialist investment companies in Egyptian tycoon Naguib Sawiris’ telecoms empire to win business in Europe, Asia and the Americas. The joint venture with Accelero Capital and Orascom TMT Investments will build and operate data centres for clients such as cloud …
