Orascom’s Zimbabwe unit says no listing now
Egypt’s Orascom
Telecom will not list its Zimbabwean arm until after the outcome of a
deal between an Orascom and Russia’s Vimpelcom, an executive for the
Zimbabwe unit said on Wednesday.
Anwar Soussa, chief
commercial officer at Telecel Zimbabwe, also said on the sidelines of a
telecoms conference, that the company expects a 20 percent increase in
customers by 2011, from about 1.5 million now.
Telecel Zimbabwe said in June it may issue new shares and list its stock, in order to meet regulations on local black ownership.
But Mr. Soussa said the company was in no hurry to seek a listing.
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