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54.4m shares purchased represent less than 9% of total Hermes shares
We continue to be committed to investing in Egypt, construction tycoon said.
Company was acquitted by the prosecutor general on the tax evasion case, invalidating the prison sentence on Nassef Sawiris
Company says lawsuit was filed by the ETA prior to the prosecutor general’s decision to acquit the company
Head of EFSA says oversight body is currently studying documents submitted to implement the deal
According to Forbes Middle East’s counts, the total worth of the Egyptian Sawiris family is $13.2bn
Sawiris had unsuccessfully attempted to buy a stake in Telecom Italia in 2012
Specific factors hitting Orascom include lower capitalisation of financing costs, the devalued Egyptian currency, but also impairments on investments and a review of its taxation
Reuters – US-based data centre firm Switch SUPERNAP has set up a joint venture with specialist investment companies in Egyptian tycoon Naguib Sawiris’ telecoms empire to win business in Europe, Asia and the Americas. The joint venture with Accelero Capital and Orascom TMT Investments will build and operate data centres for clients such as cloud …
Telecom Italia, controlled by Spain’s Telefonica together with three Italian financial companies, is carrying out a 4-billion-euro ($5.5 billion) plan to cut debt and fund investments as it seeks to reverse years of sluggish growth.
The report said that Sawiris, who runs Orascom Telecom Media and Technology, stressed that he was not considering an unsolicited bid for TIM and that he had not held talks with either Telecom Italia or Telefonica.
Sawiris, who runs Orascom Telecom Media and Technology , has tried to break into the Brazilian market before and was looking to take a larger share of Telecom Italia before Telefonica tightened its grip.
Egypt has seven prominent billionaires and even more millionaires
Free Egyptians Party spokesman describes alliance’s allegations as “nonsense”, alliance calls for protests against “military’s judges”
Construction sector tycoon says his main investments will target construction, real estate, agriculture and microfinance
Naguib Sawiris and Ahmed Fouad Negm part of nine-member board to oversee Egypt Support Fund
There are other parties which would like to merge with the Free Egyptians Party: Wagih
The Italian government preference might stand between Sawiris and Telecom Italia
The reconciliation deals are rooted in a decision by the former military rulers, who took charge of the country after Mubarak’s overthrow and before President Morsi’s election
One columnist addresses what he sees as flaws in the media, and another addresses current economic issues, including reconciliation with businessmen such as Sawiris and Ezz, and the issue of receiving money from Qatar. Four Subjects Dr Ahmed Khaled Tawfik Al-Tahrir newspaper Author Dr Ahmed Khaled Tawfik addressed the state of the media in his …
Greeted by presidential envoy
Onsi and Nasef Sawirs removed from travel ban list
A few days ago I told a Tunisian friend who just arrived some stories about the Egyptian political scene. She listened to me intently while suppressing her laughter, and after I was finished her only comment was: “Cheap Drama..You guys are living in a cheap drama.” I have found her comment not only a fantastic …
Possibility that telecoms operator will be acquired by Altimo subsidiary
At a time when many Egyptian workers are protesting against the chief executives of companies demanding better rights, employees at Orascom Construction Industries demonstrated an unusual display of loyalty against accusations from the government that the company owes EGP 14bn ($2.1bn) in back taxes relating to the 2007 sale of its cement arm to France’s Lafarge. Hundreds of …
Another meeting between OCI and the Egyptian Tax Authority scheduled for Sunday
Workers from all Orascom companies blocked the Corniche road Wednesday in protest over the travel bans imposed on Onsi and Nassef Sawiris
The workers fear the closure of Orascom companies and the exit of the Sawiris family from the Egyptian market
The EGX30 plunged more than 126 points as news of the ban circulated
Abraaj Group and the Sawiris family did not vote