VOL. XLVI

No 1

6-January-2003

JORDAN

Orascom Telecom Sells Jordanian Subsidiary To Kuwaiti Company

Egypts Orascom Telecom (OT) on 23 December announced that it had sold its 91.6% equity stake in Jordan Mobile Telephone Services Company (Fastlink) to Kuwaits Mobile Telecommunications Company (MTC also known as Wataniya Telecom) for $423.9mn. The proceeds from the transaction, which the company described as another milestone in the implementation of its plan to restructure its balance sheet and...