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France Telecom sees better Egypt environment in 2012

French telco's chief executive expects economic situation in Egypt to improve.
14.02.12 | Source: Total Telecom

French Telecom Chairman and Chief Executive Stephane Richard said he expects 2012 to provide a better economic environment for the group's earnings, in an interview with French daily Le Figaro published Tuesday.

Richard's comments apply to the group's Egyptian activities, a spokesman for France Telecom/Orange noted.

The group Monday said it was in advanced discussions with Egyptian mobile operator Orascom Telecom Media and Technology Holding SAE to increase its stake in their Egyptian telecom joint venture, a deal which could be worth up to EUR1.5 billion.

France Telecom has made a non binding offer for most of the stake that OTMT owns in the mobile joint venture called ECMS, a Cairo-listed company commonly referred to as Mobinil.

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