Egypts largest mobile phone company Orascom Telecom
Media and Technology Holding (OTMT) is selling a stake in the
Egyptian Company for Mobile Services (ECMS) to France Telecom
(FT) for EGP 6 billion (£620 million).
There are political
repercussions to this kind of transaction that we had to manage
appropriately, said Gamal Abouali, partner at Cleary
Gottlieb Steen & Hamilton in Paris. The way to do
that was to be in regular contact with the regulatory
authorities in Egypt.
The deal was challenging not only because...