Orascom Takes Stake in Hutchison Telecom
An FT.com article by Mark O'Dell, via Yahoo! News, reports that:
Orascom Telecom, the fast-growing Cairo-based telecoms operator, is taking a stake of just under 20 per cent in Hutchison Telecom, a unit of Hutchison Whampoa, as part of a strategic agreement designed to combine the two companies' mobile operations in many emerging markets.
The deal is a coup for Naguib Sawiris, chief executive of Orascom, whose stated aim is to emulate Vodafone by building a mobile empire. The combination with Hutchison means the two groups have a combined subscriber base of 40m but an addressable footprint of 2bn in markets where penetration is generally still low.
posted by Fergie @ 12/21/2005 11:28:00 AM
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