Orascom still in merger talks with Telekom Austria

1 Oct 2008

Telekom Austria’s CEO Boris Nemsic has confirmed that the firm is still holding informal talks over a possible merger with Orascom Telecom of Egypt, Dow Jones Newswires reports. Talks began in early September, with Telekom Austria having already revealed that it was open to the idea of taking on a strategic partner. ‘Mergers can make good sense if they add shareholder value,’ Nemsic said this week at a conference in Vienna. The merger of Telekom Austria and Orascom would create a player with a strong presence in Central and Eastern Europe, North Africa and parts of Asia.