OTT closes USD330 million financing deal

4 Oct 2004

Egypt’s Orascom Telecom Holding (OTH) has closed a USD330 million debt and equity financing deal for its GSM operator in Tunisia, Orascom Telecom Tunisia (OTT). Part of the proceeds will be used to pay the final instalment of OTT’s GSM licence; the rest will be used to fund network investments. OTT operates under the brand name Tunisiana and claims in the region of 880,000 customers, giving it approximately a 29% market share.