Saturday, February 11, 2012

Sawiris eyes acquisitions in focus on mobile operations

Sawiris eyes acquisitions in focus on mobile operations
Tuesday 7 February 2012 | 12:47 CET
 Egyptian telecommunications tycoon Naguib Sawiris plans to refocus Orascom Telecom Media and Technology (OTMT) by selling non-core operations and buying established mobile operators and licences, Reuters reported. It said he aims to divest peripheral operations left out of the sale to Vimpelcom last April and is eyeing mobile businesses in Europe, the Middle East and Africa.
Reuters said he also expects to double subscriber numbers in North Korea, where he said he will lose his exclusivity deal in 2013. Reuters said Sawiris has eased off day-to-day management of his empire after selling assets including Wind of Italy and Algeria's Djezzy to Vimpelcom. Egypt remains the base for his business empire, which includes Egyptian mobile operator Mobinil, and media such as the independent daily newspaper al-Masry al-Youm and a TV channel providing secular programmes for young people

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