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Altimo buyout of Orascom Telecom shareholders not completed Monday

2013-05-28 02:00:00| Total Telecom industry news

Russian company's offer saw 15.9% of shares tendered, below regulators' minimum requirement.

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Altimo's Orascom Telecom Bid Falls Short

2013-05-27 23:09:44| Telecom - Topix.net

Russian billionaire Mikhail Fridman's bid of as much as $1.8 billion for full control of Egypt 's Orascom Telecom Holding SAE failed after holders of about 16 percent of the shares accepted the offer.

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Orascom Telecom shareholders tender 10 pct in Altimo offer

2013-05-25 05:50:32| Telecom - Topix.net

CAIRO/MOSCOW: Egypt's Orascom Telecom is closer to being delisted, sources said Friday, after holders of around 10 percent of its stock agreed to be bought out.

Tags: offer telecom tender shareholders

 

Altimo won't raise offer price for Orascom Telecom shares

2013-05-21 02:00:00| Total Telecom industry news

Russian firm's comments come after Orascom advised shareholders to reject $0.70-per-share bid.

Tags: price offer raise shares

 

Orascom Telecom rejects Altimo buy-out offer

2013-05-15 08:54:00| Telecompaper Headlines

(Telecompaper) Egypt's Orascom Telecom announced that its board of directors has recommended shareholders reject an offer from Russian investor Altimo to buy out the mobile company for USD 0.70 a share. Independent financial adviser HC Securities and Investments put the fair value of Orascom's shares higher, at USD 0.86 per share, the company said. Altimo made the offer which values all of Orascom at USD 3.7 billion in early April. Altimo already has a 47.85 percent voting interest in Orascom's controlling shareholder Vimpelcom. Representatives of Vimpelcom, which owns 52.92 percent of Orascom Telecom, did not vote on the board's opinion of the bid. Vimpelcom said separately that it does not plan to tender its Orascom shares to Altimo under the current terms of the offer.

Tags: offer telecom rejects buyout

 

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