France Telecom-Orange has taken its holding in Egyptian Company for Mobile Services (MobiNil) to 94%, Reuters reports. The European telecoms giant completed the purchase of 93.9 million shares of the 100 million it did not previously hold at a pre-agreed price of EGP202.5 (USD33.04) per share, with the transaction costing it around EGP19 billion in total. As previously reported by CommsUpdate, in April 2012 France Telecom-Orange unveiled plans to spend up to EUR1.5 billion (USD1.97 billion) to increase its stake in MobiNil as part of its plans to ramp up its presence in emerging markets
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OVETEL France Telecom-Orange boosts stake in MobiNil to around 94%
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