France Telecom, Orascom reach accord over Mobinil

France Telecom and Egypt's Orascom Telecom have ended a long-standing battle for control over Egyptian mobile operator ECMS, known more commonly as Mobinil.
 
The operators have signed a truce that will put an end to all disputes over their joint investment, the companies announced.
 
As part of the deal, the parties will draw up a revised shareholder agreement – but will not change existing ownership structure or voting rights, the companies said in a joint statement.
 
Mobinil is Egypt's largest mobile operator.
 
Under the current complicated ownership structure, Mobinil is 51% owned by Mobinil Holdings, which is 71.25% controlled by France Telecom and 28.75% by Orascom, WSJ said
 
But Orascom also owns a 20% direct stake in Mobinil, making ownership rights unclear.
 
The move by new CEO Stephane Richard to reach a compromise over the deal is another sign of his differing approach to predecessor Didier Lombard, who was determined not to cede to Orascom, FT.com said

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.