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Orascom firm loses licence
- Egypt: Monday, August 13 - 2007 at 16:05
Egypt's Orascom Telecom has appealed a decision made by Zimbabwe's telco regulator to revoke a licence for Telecel Zimbabwe, one of its subsidiaries, reported Reuters. The decision was taken as Telecel, the country's third mobile operator, had missed a deadline of June 30 for transferring a majority stake in the firm to local investors. Orascom has asked for a two year extension to reduce its 60% shareholding to at least 49%.
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Jonathan Sheikh-Miller, Deputy EditorMonday, August 13 - 2007 at 16:05 UAE local time (GMT+4)
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