ATHENS: Egyptian billionaire and Orascom Telecom Chairman Naguib Sawiris said on Thursday he was interested in expanding his interests in Greece beyond the telecoms sector.
“We expressed our interest in further investments in Greece such as the media and banking sectors, Sawiris told reporters after meeting Greek Finance Minister George Alogoskoufis in Athens.
Sawiris s Weather Investments group already controls Greece s second-largest telecoms company, Tellas, with a stake of 50 percent plus one share and has offered to buy its remaining shares.
Greek power utility Public Power Corp. (PPC), which is controlled by the government, owns the remaining shares but has yet to say whether it is interested in selling the stake.
Sawiris, who also owns Greece s third-largest mobile phone operator Wind Hellas, informed the finance minister of an offer to buy out the remainder of Tellas for $136.5 million, a finance ministry official said. No further details were given.
If the acquisition is agreed, Sawiris has said he plans to combine Wind Hellas and Tellas and then expand their fixed-line and broadband services.
