Orascom considers sale of operations in sub-Saharan Africa
30 October 2012 |
Egypt’s Orascom Telecom is considering the sale of its businesses in central and southern Africa as part of an operational review.
The announcement comes after Orascom said last week it was to increase its ties with parent company VimpelCom, which took control of Orascom last year for approximately $6 billion, and to be renamed from Orascom Telecom Holding to Global Telecom Holding.
Orascom said that is was performing a strategic review and assessment of its operations in Burundi, Zimbabwe and Central African Republic.
“Those strategic options include, but are not limited to, a sale of all or a material part of the sub-Saharan African operations either in one transaction or in a series of transactions,” Orascom said in a statement.