Orascom keen to buy Bouygues Telecom.(MERGERS AND ACQUISITIONS)
2.5G-3G, October, 2007
Egypt-based Orascom is apparently interested to purchase French mobile firm Bouygues Telecom if it is offered for sale. However, Orascom CEO Naguib Sawiris stated that his company has not talked with the Bouygues group on this issue. He added that he was looking for a potential alliance with IIiad for the fourth UMTS cellular phone license being auctioned by the government of France.
He also said that Orasocm did intend to bid independently for this license, but eventually decided against it, stating that the price of $854 million was too high. Iliad is the lone French applicant and plans to invest around $2.64 billion on its services if its application succeeds.
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