Orascom contemplates LINKdotNET and Link Egypt sales

23 Feb 2009

Egyptian telecoms group Orascom Telecom is reportedly mulling the sale of two of its internet technology subsidiaries to MobiNil, Egypt’s largest cellco by subscribers, according to Reuters. Orascom has received an offer of an undisclosed amount for IT companies LINKdotNET and Link Egypt, and is considering the sale as it looks to focus on its core businesses. Commenting on the possible deal Naguib Sawiris, Orascom Telecom CEO, said, ‘The sale…represents another key step in the implementation of our stated strategy to dispose of our non-core assets and focus on our GSM business.’ MobiNil is understood to have expressed interest in the two companies as it looks to improve the data services it offers so that it can compete more effectively with rival cellco Etisalat Misr.