Latest in Tag: OTMT Highlight
Latest in Tag: OTMT
OTMT appoints Naguib Sawiris as Group CEO
“I look forward to personally leading a new take-off for OTMT with an ambitious growth strategy,” says Sawiris
End of Korean Peninsula tensions could ease Sawiris’ problems
The Egyptian telecommunications firm Orascom Telecom and Media Technology (OTMT) is the main reason behind the rise of mobile phone usage in hermetically sealed North Korea in recent years. OTMT secured a 75% stake in Koryolink, a joint venture with North Korea’s Korea Post and Telecommunications Corporation in 2008. It is estimated that as many …
OTMT studies investment opportunities as it quits Inertia takeover deal
Company mulls expansion in Egypt to boost revenues
Serious negotiations between MENA Cables and local government companies for acquiring a controlling stake
Sources: The deal is not stalled and will witness positive developments in the coming period
Factors to watch in Egypt’s stock market in the week ahead
OTMT to discuss cash dividends, Sidi Kerir to pay EGP 1.6 per share
Orascom Telecom sells MENA Submarine Cable Systems to Bharti Airtel
The deal is part of Orascom’s exit strategy from non-core investments
EGX targets breaking last week’s resistance level of 7,650 points
The EGX kept moving upwards during last week, registering a 1.76% rise as it increased from 7,453.1 points to 7,618 points.
Transfer of OTMT’s assets has no pricing basis: Sawiris
Sources asserted that Sawiris continues to defend claims over committing violations by transferring OTMT’s assets to OTMT Acquisition instead of Weather Investments
Orascom seeks to complete acquisition of CI Capital
Orascom has not yet reached the reconciliation phase
Sawiris-CI Capital undergoes exceptional examination by EFSA
The examination of the current deal is more accurate than that of Beltone’s deal, led to discovering previous violation, says EFSA chairperson
OTMT, CIB agree to extend acquisition offer before its conclusion on Thursday
OTMT made the acquisition offer through its affiliated company Beltone Financial. The offer was concluded by the end of March, which pushed Beltone to extending the period of the offer by 14 days, ending 14 April
OTMT nominates Beltone Financial Holding to finalise acquistion of 100% of CI Capital
Orascom Telecom Media and Technology Holding (OTMT) announced today that its management has agreed to nominate Beltone Financial Holding to purchase 100% of CI Capital.
CIB approves OTMT’s EGP 924m offer to purchase CI capital
OTMT’s intentions to acquire the investment bank were first reported in December 2015
Orascom expected to offer firm bid to acquire CI Capital this week: Sources
Orascom began addressing private banks to guarantee 40% of deal worth, EGP 950m-1bn, sources say
EGX requests Beltone to disclose uses of pending OTMT and Act Financial loan
The loan will be used in CI Capital acquisition in preparation for the merging: Sources
OTMT denies nationalisation by North Korea
Washington Post reported Thursday that Koryolink was acquired by North Korea
Koryolink deconsolidates, made associate to OTMT
OTMT forced to deconsolidate tech company and hopes pending issues will be resolved
OTMT, Act Financial set EGP 4 per share to acquire Beltone
EFSA is studying the offer
OTMT, Act’s intention to acquire Beltone positively affects stock market
OTMT’s share of the offer is 87% and Act’s share of the offer is 13%, the transaction value is estimated at up to EGP 650m
Egypt’s OTMT, European REC to provide solar power integrated solutions
The implementation of solar power plants tends to be much faster than other types, such as coal and wind, says Senior Vice President EMEA at REC
OTMT records net profits of EGP 728m in H1 of 2015
Results mark a 7.7% YoY surge
OTMT records EGP 373.8m net profits, 15% YoY surge
Company’s standalone net profits register EGP 221.5m
Mobinil net losses shrink to EGP 35m
The company registered net losses of EGP 177m in the first three months of 2014
Lafarge, Orascom sign MoU to manage municipal, agricultural waste
Lafarge Egypt, Ecocem aim to achieve an average fuel substitution rate of 25% by the end of 2015
Orange buys last OTMT owned stake in Mobinil
OTMT CEO Naguib Sawiris sold part of his Mobinil shares to Orange in 2012, with latest deal the sale of last 5% minority stake in Mobinil
OTMT unit secures Telecom Egypt link for MENA cable network
Reuters – Telecom Egypt has sold rights for the use of part of its infrastructure to a subsidiary of Egypt’s Orascom Telecom Media and Technology Holding (OTMT) , bringing the subsidiary closer to launching a submarine cable network. Once completed the Middle East and North Africa Submarine Cable Systems (MENA) fibre optic network will link up Italy, Egypt, Saudi Arabia, Oman and India, the company said in an emailed statement. MENA, which …
Orascom Telecom may follow Orascom Construction Industries
Possibility that telecoms operator will be acquired by Altimo subsidiary