Naguib Sawiris mulls buy in Italy Internet Sector

Naguib Sawiris is considering making an acquisition in Italy’s Internet sector, the Egyptian tycoon said in an interview with Italian newspaper published on Saturday.

Sawiris, whose family founded Egypt’s giant Orascom group, said in an interview with Corriere della Sera that he planned to create a new data center in Milan, which would be Italy’s biggest, by the end of April.

“We are also weighing up another acquisition, still in the Internet sector,” said Sawiris, who made an unsuccessful bid to buy a stake in Telecom Italia in 2012, according to Reuters.

Sawiris, a former owner of Italian mobile operator Wind, agreed in February to take a majority stake in European broadcaster Euronews.

He controls internet company Italiaonline, which scrapped a planned IPO last October due to adverse market conditions.