• Most Popular
  • Most Shared

Orascom Telecom selling subsidary for $180 million

Thu Nov 20, 2008 4:01am EST

Stocks

   

CAIRO, Nov 20 (Reuters) - Egypt-based mobile operator Orascom Telecom (ORTE.CA) (ORTEq.L) said on Thursday it had agreed to sell its service company OrasInvest to Abu Dhabi Investment for $180 million.

Government-owned Abu Dhabi Investment will pay $90 million in cash this month and the remaining $90 million in the form of interest-bearing promissory notes due 12 months after the completion of the transaction, it said in a statement. (Writing by Jonathan Wright)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets