Tuesday, October 13, 2009

Orascom Plans Bid For Triple-Play Licence

Egypt's Orascom Telecom has said it will consider bidding for one of the two triple-play licences that the government recently revealed it would offer early next year, Reuters reports. Orascom's chief operating officer, Khaled Bichara, said of the company's plans: 'We believe we are really well positioned. They [the government] want the local players and international experience, and we believe we won't need to go out of the group to make the bid'. The bid document for the licence is expected to be published by mid-October, with bids due by 12 January 2010.

Orascom is thought to be considering bidding for the concession even if it completes the sale of its IT subsidiaries LINKdotNET and Link Egypt.

Mr. Bichara denied reports that Orascom had halted the sale process for the two companies, but did add that a sale would only be completed if the bids submitted were suitable, saying: 'If we don't get the right price we won't execute the sale'; a final decision on any offers submitted is expected to be made by the end of the year.

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