FACTBOX-Dispute over ownership of Egypt's Mobinil

June 24 (Reuters) - Mobinil (EMOB.CA), Egypt's largest mobile phone operator by subscribers, is the focus of a shareholder dispute between Cairo-based Orascom Telecom (OT) (ORTE.CA) (ORTEq.L) and France Telecom (FT) (FTE.PA).

Here are key facts about the dispute:

OWNERSHIP STRUCTURE

The Egyptian Company for Mobile Services (ECMS), known by its trade name Mobinil, is 51 percent owned by a holding company in which France Telecom has a 71.25 percent stake and OT has a 28.75 percent stake. In addition, OT has a 20 percent direct stake. That structure gives OT an overall stake of about 35 percent and FT about 36 percent, analysts say. The remaining 29 percent of the firm is freely traded on Egypt's stock exchange.

THE DISPUTE

The two firms disagree over the implementation of a deal they signed in August 2001 as partners in the holding company. OT took the case to the International Court of Arbitration at the International Chamber of Commerce in Geneva in 2007.

The two firms differed over strategy for Mobinil, with OT keen to invest more heavily than FT wished, analysts say. FT says the two firms initially disagreed over Mobinil's budget and expenditure, marketing strategy and start up of 3G services.

TIMELINE SINCE APRIL 5

April 5 -- Arbitration court rules FT should buy OT's stake in the holding company at a price equivalent to 273.26 Egyptian pounds ($49) a share by April 10. A new row arises as OT and Egypt's regulator, the Capital Markets Authority, say FT must bid for the rest of Mobinil but FT says any offer is voluntary.

April 7 -- The regulator rejects FT's offer for minority shares as the price is below that indicated by the ruling. FT's offer equates to 199.69 pounds a share, based on Reuters data.

April 10 -- The regulator tells FT to make a simultaneous transfer and obligatory offer under the same terms.

May 19 -- The regulator receives second FT offer for Mobinil shares. OT asks Egyptian court to rescind the arbitration order.

May 20 -- An FT executive indicates the firm's second offer equates to 239 pounds a share, based on Reuters data.