Prime Capital named by Mobinil to evaluate France Telecom offer

www.WirelessFederation.com/news: Prime Capital has been appointed by the Egyptian Company for Mobile Services or Mobinil, to evaluate an offer by France Telecom’s unit to buy up to 100% of Mobinil. Prime Capital is supposed to submit the evaluation before January 5, 2010.

The assessment of the offer will be done before January 9, 2010 on the basis of the evaluation by the Mobinil’s board of directors. An offer from France Telecom unit to buy up to 100% of Egyptian Co. for Mobile Services at 245 Egyptian pounds ($44.42) for the ECMS, was approved by Egypt’s regulator on December 10.

There are disputes regarding France Telecom’s and Orascom Telecom’s stake in Mobinil and the latter has appealed the decision made by the regulator.