OTMT says not Party in Sawiris’ Euronews Takeover Deal

Orascom Telecom Media and Technology Holding (OTMT) stated on Sunday that it is not a party in business tycoon Naguib Sawiris’ acquisition deal of 53% stake in international news channel Euronews.

In an unprecedented shake-up of the 22-year-old channel’s ownership, Sawiris announced this week he had agreed to take a 53 percent stake in Euronews through a 35 million euro ($39 million) capital increase. He will join 23 public broadcasters which are its current shareholders.