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Articles tagged with: Telecel and Orascom Telecom
MTN Reported to be Interested in Zimbabwean Investment
South Africa's MTN is rumoured to be considering an investment in neighbouring Zimbabwe to get a stake in the country's mobile phone sector. The rumours were heightened when the company took a stand at a trade fair in the country this week. more
Related Tags: mtn, telecel-zimbabwe, orascom, Zimbabwe
Orascom Subsidiary Buys Namibian Mobile Network
telecel Globe, a subsidiary of Orascom Telecom has acquired the Namibia based mobile network operator, Cell One for approximately US$59 million in cash, of which US$32 million already paid and the balance due in January 2010. The debt assumed as part of this transaction is non-recourse on telecel Globe. more
Related Tags: gsm, orascom, cell-one, Namibia
Western Union Inks Mobile Money Transfer Deal with Orascom Telecom
Money transfer firm, Western Union has created an alliance with Orascom Telecom to introduce mobile remittance services in select markets. The services aim to make low-principal, high-frequency remittances more convenient to the millions of consumers who send money every day. more
Related Tags: gsm-association, mobinil, telecel-zimbabwe, globe-telecom, banglalink, western-union, smart-communications, tunisiana, orascom, mobile-money
Four Firms Bidding for Rwanda's 3rd GSM License
Four companies have been shortlisted to bid for Rwanda's third mobile license, the Rwanda Utilities Regulatory Agency (RURA) has announced. Thirteen companies had purchased tender documents from the regulator, but most chose not to submit a formal bid. more
Related Tags: roaming, mtn, mtn-uganda, zain, ict, vodacom, millicom, orascom, Rwanda
Orascom signs agreements to sell two African GSM networks
Egypt's Orascom Telecom (OTH) says that a major step has been taken in the sale of its controlling 65% equity stake in Congo Brazzaville's GSM business, Libertis, as well as its indirect 100% equity stake in its operator in the Democratic Republic of Congo, Oasis Telecom. Total consideration, including debt, for 100% of both operations is US$130 million. The divestiture advances OTH's announced program to strengthen its financial profile and streamline its geographic presence. more
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Orascom sells Ivory Coast subsidiary
Egypt's Orascom Telecom Holding (OTH) has sold its controlling 51.7% equity stake in Ivory Coast's GSM services business, telecel Loteny, for US$45 million in cash. As a result, OTH consolidated net debt would decrease by over US$140 million pro forma for the completed sale. The divestiture advances OTH's announced program to strengthen its financial profile and streamline its geographic presence. more
Related Tags: orascom-telecom-holding
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-algeria
Orascom's Syrian assets seized
The Egyptian Orascom Telecom has had a busy few days, having sold one of its network holdings and having its holding in another seized by the courts. more
Related Tags: syriatel