Orascom announces 1H subs growth

3 Sep 2008

Egyptian telecoms group Orascom Telecom has reported a first half revenue of USD2.652 billion, a 19% increase on the same period of 2007. In the six months ended 30 June 2008 Orascom reported a 22% improvement in EBITDA, to EGP1.16 billion, although net income for the period declined 4% to EGP276 million. At the end of June Orascom claimed over 77.34 million customers across its operations; Banglalink in Bangladesh saw an 83% increase in subscribers in the year to June 2008 to 9.46 million while its domestic wireless arm MobiNil generated a 47% increase to 17.52 million. In July 2008 Orascom formed a consortium with Globalive Communications which bid for, and won, 2GHZ band wireless (aka AWS) spectrum in Canada.

Egypt, Global Telecom Holding (GTH, formerly OTH)