VOL. XLIV

No. 03

15-January-2001

EGYPT

France Telecom Becomes Majority Shareholder In Egypts MobiNil

France Telecom on 2 January announced that it acquired a majority shareholder position in Egypts largest mobile telephone company, the Egyptian Company for Mobile Services (MobiNil), after buying $252mn worth of shares, or 12.83mn shares, from Motorola of the US. The transaction took place at E76.60 ($19.64) per share using an exchange rate of $1=E3.90, which is slightly lower than the current...