OTMT Divests Middle East and North Africa Submarine Cable

Orascom Telecom Media and Technology (OTMT) has sold the entire shareholding of its subsidiary Middle East and North Africa Submarine Cable (MENA) to Network i2i, a subsidiary of Bharti Airtel.

OTMT holds a 100% stake in MENA.

OTMT aims to conclude this transaction by the end of Q1 2017, after the fulfillment of all conditions precedents and obtaining all necessary regulatory, governmental approvals and fulfillment of the IFA report, the company said.

The decision to divest MENA comes in line with OTMT’s strategy to divest its non-core assets.

MENA is a licensed operator in Egypt and Italy of a submarine telecommunications system connecting Europe to the Middle East and South East Asia.

Share this article

Follow Subsea World News

Events>

<< Mar 2017 >>
MTWTFSS
27 28 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 22nd lnternational Offshore Crane and Lifting Conference

The Norwegian Society of Lifting Technology (NSLT) & The Offshore Mechanical Handling Equipment Committee (OMHEC) invite you …

read more >

OMC 2017

OMC mission is serving all people interested in the Mediterranean Offshore Industry…

read more >

Ocean Business 2017

Ocean Business 2015 was phenomenally successful, with visitor numbers up an incredible 29%. The overall attendance was a staggering 4,589…

read more >

International Connectivity and Cables Conference

Meet and network with leading telecom operators and OTTs including du, Etisalat, Omantel, Saudi Telecom Company, Yahoo, Angola Cables…

read more >