OTMT Affirms Plans to Compete for 4G Mobile Licences in Europe, Africa

Orascom Telecom Media and Technology (OTMT) is planning to compete for 4G licences in European and African markets in the coming period.

The OTMT group affirmed today the statement made by its chairman and managing director Naguib Sawiris on Wednesday that the company will focus within the coming period on its main business activities of mobile phone and subsea cables through competing for 4G licences in a number of markets in Europe and Africa.

In a recent interview with Amwal Al Ghad, Sawiris said OTMT has defined three countries to compete within next year, indicating that such markets are less saturated and have more potential. However, he declined to name these countries for business reasons.
OTMT enjoys strong solvency that enables it to carry out expansion strategies in the near future, according to the top official.
Sawiris also clarified that OTMT will concentrate its plans in major investments through reconsidering links between various segments in which it operates with the aim of forming a strong entity.
He hinted that OTMT may divest some of its minor subsidiaries.
The chairman also stated that OTMT seeks to maximize its investments in major markets like Egypt and North Korea.