Tuesday, July 21, 2009

Orascom Mulls Joining French Market

­Orascom Telecom Holding's (OTE) is considering joining one of the consortium that are expected to bid for France's fourth 3G license. In an interview with French daily Le Figaro, Orascom's Chairman, Naguib Sawiris said that he was open to all options, including acquisitions.
"Eight million North-Africans live in France and I think it makes sense from an industrial point of view to set foot in the French market," he told the newspaper.
Commenting on a possible bid for Bouygues Telecom, he said that the company was overvalued, but that Orascom has the financial muscle to absorb the acquisition.
Orascom Telecom has been previously with linked to talks to buy a stake in Telekom Austria

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