March 6, 2014 / 8:27 AM / 3 years ago

Egypt's Global Telecom posts net loss of $749 million in Q4 2013

Cairo, March 6 (Reuters) - Egypt-based international telecoms firm Global Telecom, formerly Orascom Telecom Holding, reported a fourth-quarter net loss of $749 million on Thursday, a 59 percent increase in losses on a year ago, blaming lower currency exchange rates and regulatory pressures in several countries in which it operates.

Revenues fell to $834 million from £908 million in the same period in 2012.

Global Telecom is 51.9 percent owned by Vimpelcom.

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