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FINANCIAL NEWS
France Telecom to pay $300m in Orascom settlement
27 Apr 2010
(MENAFN) France Telecom announced that it has agreed to pay $300 million as part of a deal to end a long-running dispute with Egypt’s Orascom Telecom over a mobile phone service provider they jointly own.
Under the deal, the companies agreed to keep their ownership structure unchanged and end all other related disputes linked to the buyout of ECMS shares by France Telecom.
The payment comes after the two companies announced April 14 a deal ending a bitterly disputed arbitration court ruling over ownership of Mobinil, a holding company with a majority stake in the Egyptian Company for Mobile Services, which operates under the brand name Mobinil.
France Telecom said the $300 million fee will be payable once the settlement is implemented.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
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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