OTMTOn the Mark Technology, LLC
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OTMT, an Egyptian telecommunications company, reportedly said this week it plans to build five logistics parks with Aramex worth 1 billion Egyptian pounds ($127.7 million) over five years.
Tamer El Mahdi, Chairman of O Capital and Deputy CEO of OTMT, said: "We are delighted to have reached such an agreement with REC, a company with a strong brand and a large footprint in the solar market.
Mena, which the company had previously hoped would be fully operational in June last year, has been delayed by a lack of regulatory approvals for its terrestrial section passing through Egypt, OTMT official Marwan Hussein said.
The market is currently missing two of its most liquid shares - Mobinil and Orascom Telecom Media Technology (OTMT) - and this is taking a toll on trade volume.
Sawiris said he plans to divest non-core operations left out of the sale to Vimpelcom last April and use his company Orascom Telecom Media and Technology (OTMT) to buy established mobile phone businesses and network operating licences.
Moreover, we agreed with some big Egyptian companies from the private sector that have the ability to enter African markets and play a role in supporting and encouraging investment in Africa such as El Sewedy Electric, Arab Contactors, and Orascom Telecom Media and Technology Holding (OTMT).
Egyptian International Submarine Cables Company (EISCC), 50% owned by Egypt Telecom, has agreed to purchase Orascom Telecom Media and Technology (OTMT) Holding S.A.E's shareholding of its subsidiary Middle East and North Africa Submarine Cable (MENA) for a total of $90 million.
FILE - Orascom Telecom Media and Technology Holding - Company's website CAIRO -- 3 June 2018: Orascom Telecom Media and Technology Holding (OTMT) turned into loss during the first quarter of 2018.
Kuwait-based telecom provider Zain Group and Egypt's Orascom Telecom Media and Technology Holding (OTMT) this week announced they have extended their network management contracts with Lebanon's government for a further three months.
Lebanon will launch a tender to run its two state-owned mobile phone operators, currently managed by Kuwait's Zain and Egypt's OTMT, as part of a plan to revamp the telecoms sector, a senior government adviser said.
It will divide into two companies: OT and Orascom Telecom Media and Technology Holding, or OTMT. The telco said in June that the split will take place at the beginning of the the third quarter.
Last week, the (EGX listing committee approved the change of Orascom Telecom, Media, and Technology Holding's (OTMT) name to become Orascom Investment Holding on the Egyptian securities listing.