Orascom Telecom Denies Sawiris Bid to Buy Wind Mobile shares

In a release sent to the Egyptian Exchange on Sunday, Orascom Telecom Holding (OTH) – (ORTE.CA) confirmed that it received neither note nor offer considering Eng. Naguib Sawiris’ intention to buy shares in Wind Mobile Canada (WIND).

Orascom noted that it will inform the EGX of any vital events as regards to buying shares in Wind Mobile Canada.

The firm further said it has not received either any note about any vital developments in Djezzy’s situation.

Algeria’s government moved to lift the sanctions imposed on Orascom Telecom Algeria (OTA) popularly known as Djezzy GSM the Algerian branch of Orascom Telecom Holding, allowing it to begin purchasing and importing new technology and equipment, in addition to granting it the right to convert its profits, according to Algerian newspaper Al-Fajr.

The decision was made after the intervention of the Algerian Prime Minister Abd Al-Malek Salal, who received a total of 10 reports from different state bodies analyzing the situation, Daily News Egypt reported.