OTH Ann. That FT Has Not Respected Deadline


 

TIDMOTLD TIDM0HB7 
 
RNS Number : 6454Q 
Orascom Telecom Holdings S.A.E 
15 April 2009 
 

 
 
Orascom Telecom Announces That France Telecom Has Not Respected Deadline to Pay 
for MobiNil Shares 
 
Cairo, April 15th, 2009:Orascom Telecom Holding ("OTH") announces that France 
Telecom (or subsidiaries thereof) ("FT") has failed to pay the purchase price as 
required by the terms of the arbitral award issued by the International Court of 
Arbitration of the International Chamber of Commerce (the "Award") and has 
failed to comply with its obligations under Egyptian law to make a public tender 
offer on the same terms as the Award.  OTH has provided FT with documentary 
evidence from its banks, which confirms that the shares can be transferred free 
of pledge. 
 
 
The payment of the purchase price under the Award was due by April 9th, 2009; 
however as sign of good faith, OTH had granted FT an extension until April 15th, 
2009 to transfer the purchase price and extend a public offer to the Egyptian 
Company for Mobile Services' "ECMS" shareholders in accordance with the Capital 
Market Authority "CMA" ruling issued on April 7th, 2009. 
 
 
As requested by the CMA, OTH will refrain for the time being from issuing any 
further press announcements on this subject. 
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-END- 
 
 
About Orascom Telecom 
Orascom Telecom is a leading international telecommunications company operating 
GSM networks in high growth markets in the Middle East, Africa and Asia, having 
a total population under license of approximately 498 million with an average 
mobile telephony penetration of approximately 46% as of December 31st, 2008. 
Orascom Telecom operates GSM networks in Algeria ("OTA"), Pakistan ("Mobilink"), 
Egypt ("Mobinil"), Tunisia ("Tunisiana"), Bangladesh ("banglalink"), and North 
Korea ("Koryolink"). OTH has an indirect equity ownership in Globalive Wireless 
which has been granted a spectrum license in Canada. Through its subsidiary 
Telecel Globe, OTH also operates in Burundi, the Central African Republic, 
Namibia and Zimbabwe. Orascom Telecom had 78 million subscribers as of December 
31st, 2008. 
 
Orascom Telecom is traded on the Cairo & Alexandria Stock Exchange under the 
symbol (ORTE.CA, ORAT EY), and on the London Stock Exchange its GDR is traded 
under the symbol (ORTEq.L, OTLD LI). For more information visit 
www.orascomtelecom.com. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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