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MobiNil sees chance for profitability, growth in 2013
- Egypt: Saturday, November 10 - 2012 at 04:52
Egyptian mobile operator MobiNil has said it hopes to swing back into profit in 2013 after being badly hit by the political turmoil that followed the toppling of president Hosni Mubarak last year, Reuters has reported. Egypt's financial regulator earlier this month approved a tender offer by France Telecom that would cement its control over MobiNil. "Our position in the market is much better this year than last year," Yves Gauthier, CEO of MobiNil, told a news conference in Cairo. "We will continue to invest," Gauthier said, adding that MobiNil typically invests EGP2bn annually. "2013 will be a year of profitability ... a year of improvement and a growing year."
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