Orascom to Buy Out Tellas

Egyptian billionaire and Orascom Telecom chairman Naguib Sawiris said he will offer within the next two weeks to buy the rest of Greece's second-largest telecom company, Tellas.

Sawiris' Weather Investments Spa is in talks with Greek utility Public Power Corp. (PPC) about buying its stake in Tellas, Sawiris told Reuters on Saturday on the sidelines of an economic conference in Jordan.Weather owns 50% and one share of Tellas, as well as Greece's third-largest telecom company, TIM Hellas.

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