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Orascom denies sale plans
- Egypt: Monday, December 10 - 2007 at 07:42
Egypt's Orascom Telecom has denied reports in the UK's Sunday Times that it is up for sale, according to Bloomberg. The firm's CEO Naguib Sawiris released a statement saying the firm was not 'on auction' and stressed that he and his family had 'no interest in exiting the telecommunications industry'. The newspaper claimed the firm was available for $17bn and Orascom had appointed bankers to look at sale options.
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Jonathan Sheikh-Miller, Deputy EditorMonday, December 10 - 2007 at 07:42 UAE local time (GMT+4)
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