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Article: News in brief.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- August 31, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Egypt's Orascom Telecom eyes 'small' acquisitions
Orascom Telecom, a mobile phone operator with assets stretching from Canada to North Korea, is looking at "small" acquisitions and not deals worth billions of dollars, the chairman said on Sunday.
Naguib Sawiris, who is also the firm's CEO, was speaking to Al-Arabiya satellite television after the firm reported a 38 percent increase in second quarter net profit on Tuesday.
"We are still making acquisitions and looking at things but they are all small things not worth billions (of dollars) but we are talking about tens of millions or hundreds of millions," he said without elaborating on possible ...