VOL. XLV

No 24

17-June-2002

EGYPT

Orascom Sale Of TelecelLoteny A Good Move For Highly Leveraged Company

Egypts Orascom Telecom (OT) said on 2 June that it had soldpart-owned subsidiary Telecel Internationals 52.5%stake in the Ivory Coasts Telecel Loteny for $40mn to emerging West African telecom playerAccess Telecom Mauritius. The sale, closing of which is subject to regulatoryand third party approvals, will be made in two instalmentsover a one-year period. OT had planned to sell its total 80%...