Orascom says wants to buy Hutchison phone unit
SINGAPORE, Oct 16 (Reuters) – Egypt’s Orascom Telecom (ORTE.CA: Quote, Profile, Research) said on Monday it wants to buy Hutchison Whampoa’s (0013.HK: Quote, Profile, Research) emerging markets phone unit, or at least take a controlling stake in the firm.
Orascom bought a 19.3 percent stake in Hutchison Telecommunications International Ltd. (2332.HK: Quote, Profile, Research)(HTX.N: Quote, Profile, Research) for $1.3 billion last December, obtaining exposure to Asian markets.
It now wants to take over the phone unit, or at least own a controlling stake in it.
“We are in constant talks on the price, to come to a price that is fair to both parties,” Naguib Sawiris, chairman of Egypt-based Orascom Telecom (ORTE.CA: Quote, Profile, Research)(ORTEq.L: Quote, Profile, Research), told Reuters on the sidelines of a telecommunications conference in Singapore.
When asked what share he wanted to purchase, Sawiris said: “All of it,” adding “We want to at least get to a controlling stake.”
He declined to provide a timeline or the premium that he would be willing to pay for the shares.
Orascom has mobile phone subsidiaries in the Middle East, Africa and Pakistan.
It operates GSM networks in Algeria, Pakistan, Egypt, Tunisia, Iraq, Bangladesh and Zimbabwe, and is traded on the Egyptian bourse and on the London Stock Exchange. The firm’s subscribers exceeded 30 million by the end of 2005.
Source- http://today.reuters.com
Arab mobile provider, Nokia launches Sudan operations
Oct 5, 2006 (DUBAI) — i2, the largest and most diverse mobile provider in Africa and the Middle East announced today in a press briefing the launch of its operations in Sudan.
i2 introduces its retail concept and after sales services for the first time in the country.
i2 is the first authorized Nokia distributor and service center in the country as well as being the first to offer mobile subscribers original Nokia devices with matching accessories and a one-year warranty. In Sudan, i2 will be available through its showroom, distribution network and service center.
i2′s operation in Sudan will be managed by Mohamed Osman El Tayyeb, Chairman, and Hussein Raouf Atwi, General Manager.
i2 plans to expand its operation throughout Sudan within the year to include Bahri, Omdurman and Kalaka. i2 has opened a branch in the state of Adbara and plans to expand to Madani and Port Sudan.
Nokia has long recognized Africa as an important market for the company’s business. Since early 1990, Nokia has provided mobile phones, enhancement, telecoms networks and related infrastructure and services to operators and customers throughout Africa.
‘Nokia’s approach is to develop and support all local distributors and service partners in all countries. Nokia has been working closely with our regional distributor, i2 across most countries in the Middle East and Africa for many years now.
i2 will be able to offer Nokia’s customers authentic Nokia handsets and official Nokia Customer Care Services to ensure that customers in Sudan receive the best possible Nokia experience.” Said Jarmo Santala, General Manager for Nokia Customer and Market Operations North West Africa.
The cost effectiveness of GSM-based services in comparison to fixed-lines has encouraged the fast growth of mobile services in Africa. Nevertheless, mobile penetration levels in Africa remain low.
‘i2 has a big role to play in the development of the mobile market in Africa. We want to make sure that it’s growing market follows international standards of product quality and service’ stated Abdul Hameed Al Sunaid, President and CEO, i2.
Founded in 1993 in Saudi Arabia as Itsalat International, i2 is the region’s largest and most diverse mobile phone provider in the region. i2 operates in: Bahrain, Chad, Egypt, Ghana, Iran, Iraq, Ivory Coast, KSA, Kuwait, Lebanon, Mauritius, Morocco, Reunion, Senegal, Sudan, Syria, Tunisia, UAE and UK.
Source- http://www.sudantribune.com
Vodafone Egypt to buy 51% of ISP Raya Telecom
Vodafone Egypt has signed a contract to acquire 51 percent of Egyptian ISP Raya Telecom from Raya Holding for EGP 104 million. Raya Telecom operates its own national infrastructure and provides data services to residential and business customers. Raya Holding has the right to sell its remaining Raya Telecom stake to Vodafone Egypt within two years at the same price. The partners have agreed to an immediate injection of EGP 50 million in Raya Telecom’s capital to strengthen its services and to explore further opportunities and synergies between the two companies. Raya Telecom will keep operating under its brand name. Amr Abdallah, the current MD of Raya Telecom, has resigned but has agreed to join Vodafone as a consultant.
Source- http://www.telecompaper.com
Telecom Egypt hurts Case index
CAIRO: Egypt’s main index fell for a second day, posting the biggest fluctuation among Arab equity markets. Telecom Egypt, the largest fixed-line operator in the Middle East by market value, paced the decline.
The Case Index dropped 0.8%, taking its two day decline to 2.9%. The measure rose 7.3% in September, boosted by Telecom Egypt’s move on September 19 to increase its stake by 23.5% in Vodafone Egypt Telecommunications.
The Abu Dhabi Securities Market Index fell 0.7% to 3514.16 as 22 stocks fell, 14 rose and 17 were unchanged. The measure has lost a third of its value this year on concern that prices have outpaced the prospects for corporate earnings growth. The Dow Jones DIFC Arabia Titans Index, a measure of 50 stocks in 10 Arab countries excluding Saudi Arabia, declined 0.4% to 350.96 as 19 stocks fell, 12 rose and 19 were unchanged.
The National Bank of Abu Dhabi dropped 2.3% to 25.2 dirhams. Emirates Telecommunications Corp, the largest telephone operator in the United Arab Emirates, decreased 0.8% to 19.05 dirhams.
Saudi Arabia’s Tadawul All Share Index added 0.6% to 10832.8 as 69 stocks rose, 10 fell and 2 were unchanged at the end of the morning session. Bloomberg
Source- http://www.gulf-times.com
Telecom Egypt agrees to up Vodafone Egypt stake to 49%
Telecom Egypt (TE) says a recent tender offer has seen it secure commitments to acquire a further 23.47% stake in mobile operator Vodafone Egypt from minority shareholders for EGP5.63 billion (USD1.03 billion). TE opened the tender offering to buy an additional 24.4% of Vodafone Egypt equity on 21 September. Upon completion of the deals, TE’s holding in the cellco will rise from 25.5% to 48.97%. UK-based Vodafone Group holds 50.1%. The outstanding shares are currently split between Alkan Group (5%), Banque du Caire (3.4%) and a number of individual shareholders.
Source- http://www.telegeography.com
Pakistan Mobilink to issue $300 mln dlr-bond – source
KARACHI, Sept 28 (Reuters) – Pakistan Mobile Communications (Pvt) Ltd. (Mobilink) will next month launch a $300 million dollar-denominated bond, a banker with knowledge of the deal said on Thursday.
“The size of the issue would be approximately $300 million,” said the source, requesting anonymity. “It would be a Reg. S bond, launched in October,” he said, which typically means the securities would not be sold in the United States.
The source gave no details on the maturity of the issue, which would be the first dollar bond sale by Pakistan’s biggest cellphone operator.
Mobilink, the local unit of Egypt-based telecoms company Orascom , declined to comment on the debt sale, but market sources say it has mandated ABN AMRO and Deutsche Bank to handle the issue.
Source- http://asia.news.yahoo.com
Technorati : Mobile, Mobilink, Pakistan
Ice Rocket : Mobile, Mobilink, Pakistan
Technorati : Mobile, Mobilink, Pakistan
Ice Rocket : Mobile, Mobilink, Pakistan
UAE: Etisalat plans India move
Etisalat is looking to enter the Indian telecommunications market as a prelude to doing business in other Asian countries such as Sri Lanka, Myanmar, the Maldives and the Philippines, a senior executive said yesterday.
The Abu Dhabi-based com pany is “studying several offers” from Middle East and Asian companies to acquire more mobile licences, Chairman Mohammed Hassan Omran said yesterday.
Although it is currently focusing on speeding up the operation of the third mobile licence in Egypt, which it obtained recently, Etisalat is “making efforts” to enter other markets, Omran told Al Emarat Al Youm.
Etisalat also recently bought a controlling stake in Pakistan Telecommunications Corporation, but lost the bidding for a 30 per cent stake in Tunisie Telecom in Tunisia.
“We are focused on the Egyptian market because it is an important market in the region, and one that is witnessing considerable growth. We will begin services on schedule in February 2007,” Omran said.
Observers say the Egypt licence witnessed strong competition between rivals, but Etisalat beat rivals from Kuwait, Saudi Arabia and South Africa as well as Egypt, paying some $2.9 billion (Dh10.6bn) for the licence.
The company was earlier this month ranked sixth among 50 listed Arab companies by Forbes magazine. It took top spot in the UAE and fifth in the GCC, in the Shuaa Capital-Gulf Business report on the biggest GCC companies by market value in 2006.
Etisalat has been going global with a vengeance since it acquired the Mobily licence in Saudi Arabia for $2bn (Dh7.34bn).
In the race to acquire Telsim of Turkey, however, Etisalat’s bid of $2.51 billion (Dh9.2bn) was the lowest. Vodafone of the UK won the deal for $4.55bn (Dh17bn).
Source- http://www.zawya.com
Technorati : Etisalat, India, Maldives, Middle East, Mobile, Myanmar, Pakistan, Philippines, Sri Lanka, UAE
Ice Rocket : Etisalat, India, Maldives, Middle East, Mobile, Myanmar, Pakistan, Philippines, Sri Lanka, UAE
Buyout firms seek sale of Greek mobile operator for €4bn
TEXAS PACIFIC Group and Apax Partners are seeking to sell TIM Hellas, the Greek mobile operator, for up to €4 billion (£2.7 billion) – just one year after paying €1.1 billion for the company, The Times has learnt.
Morgan Stanley and Lehman Brothers have been instructed to handle a sale of the group, Greece’s third-biggest mobile operator, and an auction is now under way.
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Telecom Egypt bids for larger stake in Vodafone Egypt
Telecom Egypt has launched a bid to acquire an additional 24.4 percent in mobile operator Vodafone Egypt. The fixed-line incumbent already holds 25.5 percent in Vodafone Egypt, while Vodafone has 50.1 percent of the shares. Telecom Egypt is offering EGP 100 per Vodafone Egypt share, equal to EGP 5.856 billion if the full bid is successful. Some 16 percent of Vodafone Egypt is free float for the stock listing, while Banque de Caire holds 3.4 percent and Alkan group has 5 percent.
Source- http://www.telecompaper.com
Technorati : Egypt, Mobile, Telecom, Vodafone
Ice Rocket : Egypt, Mobile, Telecom, Vodafone
Telecom Egypt to lift Vodafone Egypt stake
Technorati : Egypt, Mobile, Vodafone
Ice Rocket : Egypt, Mobile, Vodafone
