Home / Orange buys MobiNil stake

Orange buys MobiNil stake

Orange has agreed to buy a controlling stake in Egyptian mobile operator MobiNil.

Orange, one of the world’s largest telecommunications companies, has agreed to buy a controlling stake in Egyptian mobile operator MobiNil.

Orange will pay US$321 million for the 71.25% stake, which is currently owned by France Telecom. The deal means Orange will have operations in 22 countries around the world.

Orange will have joint control of MobiNil along with Orascom Telecom Holding. MobiNil owns 51% of Egyptian Company for Mobile Services, which markets its services under several brands including MobiNil, Moga and Alo. With 2.1 million active subscribers at the end of March, ECMS is Egypt’s number one provider of wireless services.

"We are pleased to be adding ECMS to the Orange group, thereby expanding the Orange footprint to a country with almost 70 million inhabitants and adding a valuable asset to Orange’s portfolio,” said Jean-Francois Pontal, CEO of Orange.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.