Orange's €209.6 million acquisition of the Egyptian Company for Mobile Services

Overview:

• Orange acquired a stake in Egyptian Company for Mobile Services for €209.6 million from Orascom Telecom Media and Technology Holding.
• Orange will exercise its call option and will obtain OTMT's 5% stake in Egyptian Company for Mobile Services as well as 28.75% of the voting rights in MT Telecom, the holding company of ECMS. 
• The Egyptian Company for Mobile Services operates Mobinil, a mobile phone operator. 
• As a result of this transaction, Orange has a 99% stake in Mobinil.

Rani Mehta - Journalist