VOL. XLV

No 27

8-July-2002

EGYPT

Orange Buys MobiNilStake For 324Mn

The EgyptianCompany for Mobile Services (ECMS) said on 2 July that Orangehad bought a 71.25% stake in MobiNilTelecommunications (which represents 36.34% of ECMS) for 324mn from FranceTelecom. The acquisition values ECMS at 6.3 times the companys EBITDA(earnings before interest, tax, depreciation and amortization) in 2001. Orascom Telcom Holding owns28.75% of MobiNil, which represents 14.66% of ECMS,and also holds another 16.6% of...