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.

The Rest @ Arabian Business

Orascom Telecom Holding SAE: Profile

The First Egyption Multi-National Corporation. in 2006 had sales of over 26 Billion

The Group's principal activity is the provision of telecommunications services in the region of the Middle East, Africa and Pakistan.
The Group operates GSM networks in

• Algeria
• Egypt
• Pakistan
• Iraq
• Bangladesh
• Tunisia
• Zimbabwe via it's subsidiaries.

Their other activities include provision of internet services and telecommunication services which involves the trading and distribution of IT and telecom equipment in Egypt.

Some of their clients include

• Microsoft
• Hewlett Packard
• Compaq
• IBM
• Lucent Technologies

During the fiscal year the Group sold its subsidiary Libertis Telecom in Congo.

The Rest @ The Wright Report