Orascom Telecom considers further expansion possibilities

Orascom Telecom operates GSM networks in seven high growth markets in the Middle East, Africa and South Asia, having a total population under licence of approximately 460 million with an average mobile telephony penetration of approximately 22% as at end-September, 2006.

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By  Tawanda Chihota Published  January 23, 2007

Egypt’s Orascom Telecom has announced that it will continue to evaluate a number of investment opportunities, including acquisitions of new licences and established operators, as well as repurchases of minority stakes in existing Orascom Telecom operations. In addition, Orascom Telecom said in a statement that the company continues to evaluate opportunistic repurchases of its GDRs in light of favourable relative market valuations. In order to provide the flexibility to repurchase GDRs in the future as suitable conditions prevail, Orascom Telecom announces a potential on-market GDR repurchase plan of up to the GDR equivalent of 5% of the outstanding shares (approximately 11 million shares) over the next 12 months. Orascom Telecom operates GSM networks in seven high growth markets in the Middle East, Africa and South Asia, having a total population under licence of approximately 460 million with an average mobile telephony penetration of approximately 22% as at end-September, 2006. Orascom operates GSM networks in Algeria (OTA), Pakistan (Mobilink), Egypt (Mobinil), Tunisia (Tunisiana), Iraq (Iraqna), Bangladesh (Banglalink), and Zimbabwe (Telecel Zimbabwe). The operator had over 50 million subscribers as at December 2006, and owns 19.3% of Hutchison Telecommunications International Limited, a telecoms services provider operating in eight countries. Orascom Telecom is traded on the Cairo & Alexandria, and London stock exchanges.

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