Egypt’s Orascom Telecom considering Lebanon’s state mobile firm
Link: Egypt’s Orascom Telecom considering Lebanon’s state mobile firm
Egypt’s Orascom Telecom, the fourth-biggest Arab mobile phone operator by market value, is considering a bid for a state-owned Lebanese operator, Chairman Naguib Sawiris said on Monday. The Egyptian billionaire shrugged off fears of instability in Lebanon, which is going through its worst political crisis since the end of the 15-year civil war in 1990, and said that the problem could be the expected high price of the license. “There is no (political) risk,” he said. “The problem will be the high price of the auction.” Lebanon is considering selling majority stakes in its two state mobile firms in February to raise as much as $7 billion, the telecommunications minister said in October.
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