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FT buys 94% of Mobinil

France Telecom has increased its stake in Egypt’s Mobinil to 94% in a transaction valued at EGP 19 billion (USD3.15 billion).

FT owned 71.25% of Mobinil shares, while Orascom Telecom Media and Technology Holdings held the remaining 28.75%.

Orascom’s Naguib Sawiris, who founded Mobinil, will keep the remaining stake in the company.

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