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...
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