Egyptian based Orascom Telecom has been awarded a contract extension to continue managing the network of Lebanese mobile operator Alfa for a further six months.
Having surpassed the target of one million subscribers since initially signing the management…
Egyptian based Orascom Telecom has been awarded a contract extension to continue managing the network of Lebanese mobile operator Alfa for a further six months.
Having surpassed the target of one million subscribers since initially signing the management contract with the Republic of Lebanon in January 2009, Orascom has been rewarded with a renewal of the deal until July 31 2010, and will earn US$2.5bn per month on top of 8.5% of Alfa’s total revenues.
Orascom is obliged to use part of these sums for network opex and can keep the remainder as management fees.
The privatisation of Lebanon’s two mobile network remains on the cards and could take place by the end of the year, although the process, which could raise around US$7bn, has been continually delayed.
