Orascom in talks to manage Libyan cellcos

5 Jul 2012

According to an unverified report by Egyptian news website Alborsa, telecoms tycoon Naguib Sawiris has indicated that his Orascom Telecom Media and Technology (OTMT) holding company is actively pursuing management contracts for Libya’s two state-owned mobile operators, Libyana and Al Madar Telecomm Company. Sawiris told Alborsa that OTMT is currently conducting talks regarding management contracts and the reactivation and development of the two firms’ networks. Further, Sawiris said that OTMT’s interest could potentially exceed a management contract if the Libyan government displays an interest in privatising the cellcos.

OTMT was formed on 29 November 2011 as a result of the merger between Orascom Telecom Holding and Russian telecoms group Vimpelcom. Following the completion of the deal certain Orascom assets – notably its part-ownership of Egyptian cellco Mobinil (which in the process of being sold to France Telecom-Orange) and a 75% stake in CHEO, a cellular operator in North Korea – fell under the control of the new entity.