FINANCIAL NEWS

Egypt’s Global Telecom logs USD419.40m loss in 2014

26 Feb 2015

(MENAFN) Egypt-based Global Telecom, formerly called Orascom Telecom, logged USD419.40 million loss in 2014, Reuters reported.

Owned by almost 51.9 percent by Russia’s Vimpelcom, Global Telecom registered a drastic USD2.61 billion loss in 2013.

According to the company’s financial statement, it was able to narrow down its 2014 losses by 84 percent when compared to a year before.

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