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Articles tagged with: Orascom Telecom Algeria
Orascom Telecom Warned of Ratings Downgrade on Algerian Tax Issues
Debt ratings agency, Moody's Investors Service has placed Orascom Telecom Holding's ratings on review for possible downgrade. Moody's said that the decision related to an announcement from the Algerian government regarding taxes and penalties alleged to be owing by Orascom Telecom Algeria (OTA) in the amount of approximately US$596.6 million. more
Related Tags: orascom-telecom, Algeria
S&P Places Orascom Telecom On CreditWatch Negative
Standard & Poor's Ratings Services said today that it placed on CreditWatch with negative implications its 'B' long-term corporate credit ratings on Egypt-headquartered Orascom Telecom and Orascom Telecom Finance. In addition, the 'CCC ' issue rating on the $750 million senior unsecured notes issued by Orascom Telecom Finance was also placed on CreditWatch negative. more
Related Tags: orascom-telecom, orascom, Egypt
Palestinian investment fund delays Tunisian GSM sale
Egypt's Orascom Telecom says that it has experienced certain difficulties in implementing the recently announced agreement to acquire additional 23.07% and 22.3% indirect equity stakes in its Algerian and Tunisian subsidiaries, respectively, from significant minorities. more
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Orascom starts to pay off its debts
Egypt's Orascom Telecom says that it has made an initial debt repayment of US$25 million to its primary network equipment suppliers: Alcatel, Motorola and Siemens. Orascom is currently seeking to negotiate a long-term debt restructuring arrangement with these suppliers. In order to restructure its balance sheet, Orascom Telecom has also reached an agreement to swap US$90 million of loans made to OTH into equity in its various subsidiaries. more
Related Tags: orascom-telecom, telecel
Orascom issues Algerian GSM contract
LCC International has been selected by Orascom Telecom Algeria "OTA", the leading Egyptian mobile phone operator who won Algeria's second GSM license in July 2001, to provide turn-key deployment services for the eastern regions of its network. more
Related Tags: orascom-telecom, gsm-license