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Orascom Construction and IPIC collaborate to set up coal-fired power plant in Egypt

2014-11-05 01:00:00| Power Technology

Egyptian engineering and construction firm Orascom Construction plans to develop, construct and operate a coal-fired power plant in Egypt in collaboration with the International Petroleum Investment Company (IPIC).

Tags: set power construction plant

 

VimpelCom signs deal to sell 51% of Orascom Algeria

2014-04-18 12:01:00| Telecompaper Headlines

(Telecompaper) VimpelCom and Global Telecom Holding (GTH) have signed an agreement to sell 51 percent of their subsidiary Orascom Telecom Algeria (OTA) to Algerian National Investment Fund FNI for USD 2.64 billion. OTA, which uses the Djezzy brand, will distribute a USD 1.86 billion dividend to GTH immediately prior to the closing of the transaction, which is expected to occur by the end of the year. The total dividends and proceeds due to GTH at closing are expected to amount to USD 4 billion, net of all taxes and after the settlement of all outstanding disputes and the payment of associated fines. The proceeds will be used to pay down shareholders loans provided by VimpelCom to GTH. The latter will continue to exercise operational control over OTA and both VimpelCom and GTH will continue to fully consolidate OTA. VimpelCom CEO Joe Lunder said the value accretive transaction resolves the company's dispute with Algeria and allows it to solidify its position in this market by allowing it to invest further in a 3G network.

Tags: sell deal signs algeria

 
 

Orascom renews Zimbabwe licence

2013-08-07 02:00:00| Total Telecom industry news

Telecel to pay US$137.5 million for a 20-year licence extension; shareholder dispute still unresolved.

Tags: zimbabwe licence renews orascom

 

Altimo says no plans for new offer to buy Orascom Telecom shares

2013-06-03 02:00:00| Total Telecom industry news

Russian firm confirms it cannot proceed with offer after Egyptian regulator rejected its application to change tender rules.

Tags: buy offer plans shares

 

Orascom Telecom Slumps as Altimo Offer Withdrawn: Cairo Mover

2013-06-02 20:45:50| Telecom - Topix.net

Orascom Telecom Holding SAE dropped the most in more than six months in Egypt after billionaire Mikhail Fridman withdrew an offer to buy a 16 percent stake in the mobile phone company.

Tags: offer telecom withdrawn cairo

 

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