Egypt's Orascom Telecom Media and Technology Holding (OTMT) has reportedly said that it expects to conclude negotiations with France Telecom-Orange (FT) regarding the sale of most of its shares in Egyptian cellco MobiNil within a few weeks. According to Reuters, with OTMT having previously reached a preliminary agreement with FT last week for all but 5% of its holding in MobiNil - under which the French company would pay EGP202.5 (USD33.4) per share - it is understood that OTMT is now negotiating a put option mechanism for the remaining 5% holding, which would be exercisable between 2015 and 2017.
Originally posted here:
OVETEL OTMT says it expects to close MobiNil stake sale in the coming weeks
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