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Orascom Telecom considers sale of African units

Egyptian comms giant says it's conducting review of operations in Burundi, Zimbabwe and Central African Republic

Reuters, Tuesday 30 Oct 2012
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Views: 1023

Orascom Telecom Holding (OTH) said it was considering the sale of all or part of its interests in central and southern Africa as part of a review of operations in the region.

In a statement on Tuesday, Orascom Telecom said it was conducting a review of its operations in Burundi, Zimbabwe and the Central African Republic "to identify, examine and consider a range of strategic alternatives".
"Those strategic options include, but are not limited to, a sale of all or a material part of the Sub-Saharan African Operations either in one transaction or in a series of transactions," it said.
Russia's Vimpelcom took control of the Egyptian company last year in a deal worth around $6 billion.
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