Karim Beshara: OTMT Mulls OT Ventures Sale

Orascom Telecom Media & Technology Holding (OTMT.CA) announced plans to sell its unit OT Ventures, the content provider for the internet portals such as LINKonLINE, Masrawy.com and otlob.com.

Karim Beshara, the CEO of OTMT, said the firm is studying two options for OT Ventures whether to sell the whole stakes or to increase the investments focusing more on the content in accordance with the volume of business of the parent company, Orascom Holding.

Beshara explained that OT Ventures’ activities do not comply with the parent company’s actual volume of businesses which are based on the major industries in the ICT sector.

He said OTMT’s major plans within the coming period will focus on the marine cables and mobile licenses.