Orascom Telecom - is planning to sell 15% of its shares - Company Financial Information - Brief Article

CommunicationsWeek International, July 17, 2000

Orascom Telecom, the number one mobile phone operator in Egypt, is planning to sell 15% of its shares via an initial public offering on both the Cairo and London stock exchanges. The sales is likely to raise around $329 million, part of which will be used to fund the company's acquisition of Telecel International in South Africa.

Remaining funds will be used to finance investment and expansion by Orascom.