Mobinil Eyes New Strategy to Enhance its Financial Position by 2015

CEO of Egyptian Company for Mobile Services (MobiNil) (EMOB.CA) Yves Gauthier said Mobinil will review in expanded meeting with Orange S.A financial restructuring options for Mobinil by the next December, identifying the options which comply with the set plan of Mobinil in Egypt including boosting the capital by Orange or increasing the numbers of investors in Mobinil.

The options also aim to get rid of part from its infrastructure, and Mobinil is currently in talks with firms and specialised investors so as to sell part of its infrastructure.

Mobinil’s capital estimated at EGP1 billion divided into 100 million per stake, the company’s ownership structure divided between 94% for Orange S.A and 5% for Orascom Telecom Holding S.A.E and 1% for other shareholders.

The company’s strategy seeks to achieve good growth rates in Money transfer via mobile phone services which it launched by the company in cooperation with Emirates NBD in addition to strengthening its networks with new technologies as prelude for the unified licence, Gauthier asserted.