Sawiris’s Weather changes name to Wind Telecom
Egyptian mobile
operator, Orascom Telecom, said on Thursday its parent company, Weather
Investments, which plans a $6.6 billion deal to sell assets to Russian
operator Vimpelcom, has changed its name.
Weather, the
investment vehicle of Egyptian billionaire, Naguib Sawiris, switched
its name to Wind Telecom on December 30, Orascom Telecom said.
The holding company
agreed to sell controlling stakes in Orascom and Italian operator, Wind
Telecomunicazioni, in October, but opposition from Vimpelcom
shareholder, Telenor, has cast doubt on the deal.
It is now reviewing a revised offer for the assets.
Leave a Reply