Egypt's Orascom Telecom appeals over Mobinil deal

CAIRO May 19 (Reuters) - Egypt's Orascom Telecom (OT) (ORTE.CA) said on Tuesday it had filed an appeal requesting that a sale of shares in mobile operator Mobinil be rescinded because the buyer, France Telecom, had not met conditions for the deal.

OT said it had appealed to a Cairo court to declare "that the share sale agreement arising out of the arbitration award ... has been rescinded due to France Telecom's (and its subsidiaries') failure to pay the price of the shares by the time stipulated in the arbitration award, and related damages."

OT made the announcement in a statement. (Writing by Edmund Blair)