15 Apr 2010
(MENAFN) France Telecom SA and Orascom Telecom Holding SAE, which jointly control the Egyptian Co. for Mobile Service Mobin, announced that they have agreed to end a long legal dispute over their ownership of the operator, Bloomberg reported.
France Telecom owns about 71 percent of Mobinil Telecom, which controls Egyptian Co. for Mobile Services with a 51 percent stake. Orascom owns 29 percent in Mobinil Telecom and 20 percent in Egyptian Co.
France Telecom was told by regulators it had to bid for the outstanding shares of Egyptian Co. to implement an arbitration ruling to buy Orascom’s stake in Mobinil Telecom.
France Telecom will change its accounting method to fully consolidate Mobinil under the agreement, which will also avail Orascom operational rights commensurate with its co-owner and strategic partner position, in addition to minority protection and liquidity rights, according to a statement.
France Telecom and Orascom, whose Egyptian partnership goes back to 1998, had been locked in an ownership dispute since December 2007.
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more