Egyptian company Mobinil still seeks to buy local broadband provider LINKdotNET and has set itself a month to do so, according to Reuters.
Mobinil chairman Alex Shalaby was quoted saying that his company had set an internal target to finalise the…
Egyptian company Mobinil still seeks to buy local broadband provider LINKdotNET and has set itself a month to do so, according to Reuters.
Mobinil chairman Alex Shalaby was quoted saying that his company had set an internal target to finalise the acquisition within 30 days from the board meeting, which was held on 9 March.
Last November, TelecomFinance reported that Vodafone Egypt, state-owned Telecom Egypt and Mobinil made bids to buy the broadband company but Orascom said that it might hold on to the asset if offers were deemed unsatisfactory.
EFG Hermes is advising Orascom on the process.
Mobinil is a holding group which owns 51% of Egypt’s largest mobile operator ECMS. The main shareholders, France Telecom (71%) and Orascom (29%) are entangled in a legal dispute over shares sale.
