OTMT Extends Management Contract of Alfa Lebanon for 1 Month

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Egypt’s Orascom Telecom Media and Technology Holding (“OTMT”) (OTMT.CA) announced Tuesday it received an extension to the management contract of the Lebanese mobile telecommunications operator “Alfa” with the Republic of Lebanon for a period of one additional month commencing on August 1, 2014 and ending on August 31, 2014.

The terms of the extension remain the same as per the current contract signed between OTMT and the Ministry of Telecommunications in Lebanon.

Being awarded this further extension and despite its short duration, OTMT remains committed to playing a positive role in the development of the mobile sector in Lebanon.

OTMT and in cooperation with the Ministry of Telecommunications will pursue Alfa’s growth policy it has followed since 2009, which is a strategic sector for the economic progress in Lebanon.