Cairo – Mubasher: Egypt’s telecom operator Mobinil said, in a bourse filing Monday, its major owner France’s Orange has not defined yet the stake to be floated in the company for Egyptians or set a date for the flotation.
Orange Chairman and CEO Stéphane Richard said in June his company was considering two options for Mobinil.
The first option is to float a stake between 10% and 15% in Mobinil on Cairo bourse, while the second option is to allow a strategic investor – in this case an Egyptian partner – into the company, the top executive added.
Mobinil’s consolidated losses for the first nine months of 2015 shrank by 95% year-on-year.
