CAIRO: Executives of Egypt s Orascom Telecom will meet this week with counterparts from France Telecom to discuss the Mobinil ownership row, Orascom said on Tuesday.
France Telecom and Orascom Telecom, the two main shareholders in Mobinil, Egypt s largest mobile operator by subscribers, have been in a long dispute after an arbitration court said the French company should buy Orascom s stake.
We are meeting with them tomorrow (Wednesday), Orascom s spokeswoman Rasha Mohamed said, without elaborating.
Egypt s regulator last week approved an offer by a France Telecom unit to pay LE 245 ($44.90) for each outstanding Mobinil share, which could net Orascom more than $1.6 billion.
Orascom said it opposed the regulator s decision.
Egypt s Communications and Information Technology Ministry said on Sunday it continued to hope the two sides would stay partners in Mobinil.
