Advisor on France’s Tel offer named by Mobinil

www.WirelessFederation.com/news: Mobinil, an Egyptian company for mobile services has appointed an independent financial adviser for evaluating and buying France’s Telecom’s offer. The firm has been at the centre of a long and often rancorous dispute between its two main shareholders, Orascom Telecom and France Telecom.

In a statement to the stock exchange, the firm attributed that they have appointed Prime Capital which will submit an evaluation of the offer before January 5. However the company will formally announce the results of the evaluation only before January 9, it said.

While Orange Participations, France’s Telecom subsidiary is offering 245 Egyptian pounds ($44.54) for each freely traded share in Mobinil, the last date for the offer for the shares will end with the closing of the trading session on January 14.