Changing Orascom Telecom’s Name to ‘Global Telecom’ Delayed to 23 Sept

The Egyptian Exchange announced that its Listing Committee held today 17/09/2013 has decided to postpone to implement the decision of changing the name of Orascom Telecom Holding (ORTE.CA) to be Global Telecom Holding to become effective by the trading session of next Monday September 23rd instead of September 18th.

This comes after Orascom Telecom informed the EGX management that the firm has not yet completed changing name procedures in London Stock Exchange (LSE).

On November 13th, Orascom Telecom’s shareholders agreed on changing the group’s brand name to become Global Telecom Holding after Vimpelcom took control of the Egyptian company last year in a deal worth around $6 billion.

Orascom Telecom Holding S.A.E. (OTH) is an international telecommunications company operating global system for mobile communications (GSM) networks in the Middle East, Africa and Asia.