Cairo - Mubasher: Pharos Research set the fair value (FV) of Orascom Telecom Media and Technology (OTMT) at EGP0.89 per share, with an Equal Weight recommendation, according to a recent report.
OTMT’s share price has climbed 8% last week, on speculations that a settlement agreement for Koryolink is close. Management did not indicate reaching any common grounds with the North Korean government for the time being.
The company indicated that the effective stake in Orabank amounts to 95%, however, Pharos believes that the transfer of assets will have a minimal effect on OTMT’s financial statements.
