Orange has announced that it will acquire the 71.25% stake in Egypt’s MobiNil Telecommunications that’s currently owned by its parent company France Telecom. The move will see Orange operating in 22 countries within Europe and further afield.
MobilNil has a 51% stake in the Egyptian Company for Mobile Services (ECMS), which was awarded a GSM900 license in 1998. ECMS has grown to become Egypt’s largest provider of mobile services, having acquired 2.1 million subscribers at the end of March 2002.
Orange’s stake will give it majority control of MobiNil, with the remaining shares held by Orascom Telecom Holding.