Orascom Telecom Denies Freezing North Korean Investments
Published on: 9th Dec 2013
By: Ian Mansfield
Orascom Telecom has refuted recent media reports that it is freezing investment in its North Korean mobile network subsidiary.
The company said that the reports "are entirely inaccurate."
In a statement it said that where OTMT currently has no plans for new investments in North Korea, the company is open for new opportunities in this market, in which it has been investing for six years.
The company added that it "has not announced any intentions to freeze investments in the North Korean market."
However, it is worth noting that many companies do things without making announcements about them and the statement did not explicitly confirm that it would be spending any more money on its North Korean network, only that it was open to further opportunities.