Orascom Tele Media OTMT Sale of Medcable

  Orascom Tele Media (OTMT) - Sale of Medcable

RNS Number : 3914R
Orascom Telecom Media & Tech Hldng
18 November 2012
 



 

 

Orascom Telecom Media and Technology Sells MedCable to Orascom Telecom Holding

                                       

                                       

Cairo, November 18^th,  2012:  Orascom  Telecom Media  and Technology  Holding 
S.A.E. (OTMT) announced today the completion of the negotiations with  Orascom 
Telecom Holding S.A.E. (OTH) to sell  its entire stake in MedCable, its  fully 
owned subsidiary.

Both companies  agreed  the transfer  by  OTMT to  OTH  of MedCable  would  be 
effected at an enterprise value of Euro 12.3 million. 

 

The decision to divest MedCable will serve to strengthen OTMT's  profitability 
position and  support its  strategy to  develop higher-growth  /  higher-yield 
businesses.

 

 

                                    -END-

 

 

About Orascom Telecom Media and Technology

 

OTMT is a holding  company that has investments  in companies with  operations 
mainly in Egypt, North  Korea, Pakistan, Lebanon and  other North African  and 
Middle-Eastern countries. The activities of  OTMT are mainly divided into  its 
GSM, media and  technology and  cable businesses. The  GSM activities  include 
mobile telecommunications operations  in Egypt, North  Korea and Lebanon.  The 
media and technology division  consists of OT Ventures/Intouch  Communications 
Service and the  OT Ventures  Internet portals  and other  ventures in  Egypt, 
including LINK Development, ARPU+ and  LINKonLINE. The cable business  focuses 
on the management of cable networks.

 

OTMT is traded on the Egyptian Stock Exchange under the symbol (OTMT.CA, OTMT
EY).

 

 

 

 

 

 

For further information:

 

OTMT Press Contact:

manal.abdelhamid@otmt.com

 

Visit our website: www.otmt.com

 

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
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DISLIFSTLSLTLIF -0- Nov/19/2012 07:00 GMT