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FINANCIAL NEWS
Egyptian court delays ruling in Mobinil case
28 Mar 2010
(MENAFN) An Egyptian court said that it will make a final ruling on April 10 on an earlier decision to block regulator approval of a France Telecom bid for outright control of Mobinil, the country’s largest mobile operator by subscribers.
The court had issued an initial ruling in favor of Egypt’s Orascom Telecom in December, blocking a share offer that would have cost the French firm $2.9 billion if all shareholders agreed to sell. This delay was the third since that ruling.
France Telecom and other major shareholder Orascom Telecom are fighting a protracted legal battle over ownership of the Egyptian Company for Mobile Services (ECMS), known by its Mobinil brand name.
The two firms jointly own the holding company that controls the firm, while Orascom also holds a 20 percent direct stake.
More News
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02 Jul 2025
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12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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