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Competition set to rise in Egypt’s telecoms industry

By Oxford Business Group A new licence system governing Egypt’s fiercely competitive telecoms sector is expected to be rolled out within weeks, paving the way for mobile and fixed-line operators to vie for each other’s business. While the country has a large consumer population, as penetration has passed 100%, telecoms players have faced an increasingly …

Daily News Egypt

Egypt Telecom regulator to issue unified telecoms license

Reuters – Egypt’s telecoms regulator said it had agreed to issue a unified licence allowing a company to operate fixed-line and mobile networks, and had sent the details of its decision to the cabinet for final approval. The move would allow landline monopoly Telecom Egypt to offer mobile services. “(The decision) will achieve needed development and balance in Egypt’s …

Daily News Egypt

Egypt index edges higher, Gulf markets down

By Reuters CAIRO: Egypt’s main index closed virtually unchanged, trading in thin volumes as traders waited for details of a regulatory decision on France Telecom’s bid to buy out most of Orascom Telecom Media and Technology’s (OTMT) stake in Mobinil. The index edged 0.8 percent higher to 4,708 points. The bourse suspended trading in Mobinil …

DNE

Egypt’s bourse suspends trading in Mobinil and OTMT

By Reuters CAIRO: Egypt’s stock exchange has suspended trading in mobile operator Mobinil and Orascom Telecom Media and Technology (OTMT) on the request of the country’s regulator, the exchange said on Thursday without providing further details. The regulator is weighing up whether to approve France Telecom’s plan to purchase most of OTMT’s stake in Mobinil …

DNE

France Telecom finalizes terms of Mobinil buyout

By Leila Abboud and Tom Pfeiffer /Reuters PARIS/CAIRO: France Telecom has finalized a deal to buy most of its partner’s stake in Egyptian mobile operator Mobinil for €1.5 billion ($2 billion), leaving the venture with 95 percent French ownership but significant Egyptian board and management presence. Orascom Telecom Media and Technology Holding’s (OTMT) shares jumped 5.2 …

DNE

Egypt index pushed higher by Mobinil optimism

By Reuters CAIRO: Egypt’s benchmark index closed up 2.1 percent after a surge by mobile operator Mobinil on revived optimism that a deal for France Telecom to buy most of its shares will proceed, traders said. Orascom Telecom Media and Technology has tentatively agreed to sell most of its stake in Mobinil to fellow shareholder …

DNE