OT's Q3 revenue increases, but its bid to acquire 100 percent of HTIL fails

Iraq Telecom, December, 2006 by Anonymous

EGYPT

Egypt's Orascom Telecom reported a 37 percent rise in Q3 EBITDA as its group mobile user base increased by 83 percent year-on-year to over 46 million. Revenues in the quarter ending September 30 rose 35 percent to $3.216 billion, increasing EBITDA to $1.4 billion and net income by 12 percent to $0.55 million.

OT's stakes in cellular operators include Pakistan, Algeria, Egypt, Tunisia, Iraq, Bangladesh, the Republic of Congo, and Africa.

By the end of September, OT's total user base rose to 46.52 million from 25.49 million a year ago. But OT has apparently failed in a bid to acquire 100 percent of Hong Kong-based Hutchison Telecommunications International Ltd. (HTIL) due to disagreement on the terms. Orascom claimed 19.3 percent stake in HTIL for $1.3 billion...

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