Orascom Telecom Completes West Africa GSM Sale
Egypts Orascom Telecom Holding (OTH) announced on 28 April that it had completed the divestiture of its controlling 51.7% equity stake in the Ivory Coasts leading GSM services operator, Telecel Loteny. As a result OTH will receive $53.1mn in cash and the repayment of shareholders loans. Also, a renewable trade name license agreement is expected to generate in excess of $5mn in the next three years. OTH said that...