EGYPT
Corporation News
Orascom Telecom (ORTE.
CA) still plans to launch its operations in
Canada this year, and is confident regulatory approval can be sorted
out, executive chairman Naguib Sawiris said on Tuesday.
Globalive, a
start-up wireless carrier in...
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EGYPT
Corporation News
Orascom Telecom (ORTE.
CA) still plans to launch its operations in
Canada this year, and is confident regulatory approval can be sorted
out, executive chairman Naguib Sawiris said on Tuesday.
Globalive, a
start-up wireless carrier in which Orascom says it has an indirect stake,
is hoping to launch a wireless service in Canada and challenge the
country s established Big Three carriers for mobile phone subscribers.
The Canadian telecommunications regulator ruled last month, however,
that Globalive was effectively under the control of its Egyptian-based
financial backer, Orascom Telecom, and therefore did not comply with
the country s foreign ownership rules.
Source: Noozz
In other news, Naguib Sawiris, CEO of Orascom Telecom Holding
(OTH) (ORTE.
CA), confirmed that Algeria –based Djezzy was incurring
huge losses, following the Algeria–Egypt match in Cairo.
He added a
crowd of Algerian football fans attacked Ring Factory, smashed the
company’s headquarters as we
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