Orascom to Give Most of Mobinil Sale Proceeds to Shareholders

Orascom Telecom (ORTE) Media & Technology Holding SAE said it may distribute to shareholders most of the proceeds from the planned sale of shares that it holds in Egyptian Co. for Mobile Services to France Telecom SA. (FTE)

The sale is expected to be completed in two months, the Cairo-based company said in a filing to the Egyptian Exchange, citing Chief Executive Officer Khaled Bichara. Egyptian Co. operates under the brand Mobinil. (EMOB)

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Alaa Shahine at asalha@bloomberg.net

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