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>

<< Aug 2017 >>
MTWTFSS
31 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 3

Kuwait Oil & Gas Show

Kuwait Oil & Gas Show is the Kuwait International Fair Ground in Kuwait City, Kuwait. This event showcases product from Chemicals & Dyes, Electronics & Electrical Goods, Hand, Machine & Garden Tools, Petroleum, Oil & Gas, Power & Renewable Energy industries. More info

read more >

SPE Offshore Europe 2017

Attending SPE Offshore Europe, recognised by offshore E&P professionals as Europe’s leading E&P exhibition and conference, will ensure…

read more >

Offshore Site Investigation & Geotechnics Committee 8th International Conference “Smarter Solutions for Future Offshore Developments”

The conference series, which has run since 1979, offers a unique opportunity for geotechnical engineers, geoscientists and academics…

read more >

Oil & Gas Indonesia 2017

Oil & Gas Indonesia (OGI) is an exhibition focused on Oil and Gas Exploration, Production and Refining and showcases the largest exhibition…

read more >