PARIS: France Telecom said it and Orascom Telecom held high-level discussions in the past week to find a resolution to their prolonged battle for control over Mobinil, Egypt s major telecoms operator.
France Telecom deputy chief executive Jean-Yves Larrouturou, who heads the business in Africa, Middle East and Asia, has spoken with Orascom Executive Chairman Naguib Sawiris since a court ruling on Jan. 13 halted a tender offer that would have seen the French group seal control of Mobinil.
The two sides have been in touch at various points throughout the conflict, a France Telecom spokesman said, adding: The discussions are continuing. We are also in touch with Egyptian authorities.
France Telecom and Orascom Telecom are fighting over ownership of the Egyptian Company for Mobile Services (ECMS), known by its brand name Mobinil. The two companies jointly own a holding company that controls Mobinil.
In total, France Telecom owns 36.4 percent while Orascom has 34.6 percent, including a 20 percent direct stake. Small shareholders own the remaining 29 percent.
The fact the dispute seems bogged down in Egyptian legal and regulatory wrangling may push the two sides to finally consider a negotiated settlement, analysts say. The next court hearing is slated for Feb. 13.
On Tuesday, Egypt s communication minister called on the two companies to meet to settle the dispute.
Orascom was not available to comment.
