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Orascom to Give Most of Mobinil Sale Proceeds to Shareholders

Orascom Telecom 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.

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.

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