Mobinil to offer stake on Cairo bourse or to local partner in 2016: Orange CEO

Reuters , Wednesday 3 Jun 2015

Stephane Richard
France Telecom Orange Chairman and CEO Stephane Richard (Photo: Reuters)

The chief executive of French telecoms operator Orange said on Wednesday that Egyptian subsidiary Mobinil would offer 10 to 15 percent of its stock on the Cairo bourse or sell a stake to a local partner in 2016.

Stephane Richard also said at a news conference in the Egyptian capital Cairo that Orange would increase its stake in a Moroccan subsidiary to 49 percent from 40 percent, as part of plans to expand in North Africa. 

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