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OrascomTelecom Hldgs (OTLD)

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Friday 15 August, 2008

OrascomTelecom Hldgs

Orascom Telecom Share Buy Bac

RNS Number : 4133B
Orascom Telecom Holdings S.A.E
15 August 2008
 




Orascom Telecom Share Buy Back




Cairo, August 15th, 2008Orascom Telecom Holding S.A.E. ('OTH' or 'Orascom Telecom') announced today that it will continue to evaluate selective repurchases of its shares in light of favorable relative market valuations. Orascom Telecom plans a potential on-market GDR and local shares repurchase plan of up to 8.9 million GDRs (44.9 million shares) over the next 12 months. This repurchase follows the share buy-backs performed by OTH during 2008, including the May and June 2008 tender offers, of which all shares bought back were cancelled at the Extraordinary General Assembly Meeting held on August 6, 2008. 


This press release is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell securities.


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About Orascom Telecom

Orascom Telecom is a leading international telecommunications company operating GSM networks in six high growth markets in the Middle East, Africa and South Asia, having a total population under license of approximately 450 million with an average mobile telephony penetration of approximately 41% as of March 31st, 2008. Orascom Telecom operates GSM networks in Algeria ('OTA'), Pakistan ('Mobilink'), Egypt ('Mobinil'), Tunisia ('Tunisiana'), Bangladesh ('Banglalink'), Zimbabwe ('Telecel Zimbabwe'), and has acquired in early 2008 a license to operate mobile services in North Korea. Orascom Telecom had over 74 million subscribers as of March 31st, 2008.


Orascom Telecom is traded on the Cairo & Alexandria Stock Exchange under the symbol (ORTE.CA, ORAT EY), and on the London Stock Exchange its GDR is traded under the symbol (ORTEq.L, OTLD LI).


For further information:


Orascom Telecom Holding S.A.E

Investor Relations

Investor Relations Dept.: [email protected]

Visit our website: www.orascomtelecom.com





This information is provided by RNS
The company news service from the London Stock Exchange
 
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