Cairo – Mubasher: Orascom Telecom Media and Technology Holding (OTMT) is preparing for a full exit from North Korea after suspending its services in the country earlier this month.
Japanese intelligence officials and sources in the telecom industry remarked that OTMT’s decision came due to pressures from the US and the United Nations Security Council, according to the Korea Times.
Egyptian billionaire and OTMT’s chairman Naguib Sawiris has not officially announced exiting from North Korea yet, the newspaper indicated.
In 2008, OTMT had established Koryolink, North Korea’s only 3G mobile phone network, in collaboration with Pyongyang.
The Egyptian company holds a 75% stake in Koryolink, while North Korea's government owns the remaining 25% stake.
