Egypt’s Orascom to sell assets to Accelero Capital
The sale was approved by the board of Orascom Telecom Ventures, a subsidiary of Orascom Telecom Media
An Orascom subsidiary has approved the sale of 140 million Egyptian pounds ($19.58 million) of assets to Accelero Capital group, Orascom said on Wednesday.
The sale was approved by the board of Orascom Telecom Ventures, a subsidiary of Orascom Telecom Media and Technology Holding, and is expected to close in the first quarter of 2015, Orascom said in a statement.
The assets involve mobile value added services, online advertising, development and content management, it said.
Accelero Capital is an investment and management group with offices in Cairo and Paris which is focused on telecommunications, digital media and technology, according to its website.
-
Russia’s Altimo says no plan for new Orascom offer
Russian firm Altimo said on Sunday it had no plans to launch a new offer to buy out minority shareholders in Orascom Telecom (OTH) after Egypt’s ... Banking & Finance -
Egypt’s Orascom Telecom drops bid to buy Wind Mobile
A subsidiary of European telecoms company Vimpelcom Ltd has withdrawn its bid to acquire control of Canada’s Wind Mobile, a surprise move that ... Telecoms -
OCI NV buyout nets over 97% of Egypt’s Orascom
OCI NV, the Dutch-listed parent of Egypt’s Orascom Construction Industries, said it would own more than 97 percent of its subsidiary’s ... Telecoms -
Egypt’s Orascom TMT 2013 after-tax profit tumbles 70%
OTMT says that in 2012 it sold 29 percent of Egyptian mobile service provider Mobinil to France Telecom Telecoms