Global Telecom narrows Net Losses by 84% in FY 2014

By Yomna Yasser On Feb 25, 2015

Egypt’s Global Telecom Holding (GTH) records a 84% fall in net loss to hit EGP 3.2 billion (US$419 million) net loss for fiscal year ended in December 31, 2014, from EGP 20 billion (US$2.6 million).

Global Telecom Holding SAE (GTH), formerly Orascom Telecom Holding SAE, is an Egypt-based integrated telecommunications services company operating mobile networks in the Middle East, Africa and Asia.

The Company operates in five business segments: Mobile telecommunication business in Algeria; Mobile telecommunication business in Pakistan; Mobile telecommunication business in Bangladesh; Other Global System for Mobile Communications (GSM), and Other Telecom service (Non GSM Service) which includes other territories in which the Company operates as a mobile telecommunication operator and other services. In addition it has an indirect equity ownership in Telecel Zimbabwe (Zimbabwe). The Company is a member of the VimpelCom Group, which is a mobile telecommunications provider.