Egypt: Brief corporate news
Orascom Telecom –OT (ORTE.CA) announced that its subsidiary SyriaTel was awarded a $20 million BOT agreements for a GSM 900MHz network in Syria. On another note, OT was unsuccessful in the bid to acquire one of three licenses offered for mobile networks in Nigeria.
Industrial Engineering Enterprise Company -IEEC (IEEC.CA) announced its FY2000 results ending June, in which net profit plunged 40 percent to LE30 million compared to LE50 million in the same period last year.
The Ministry of Finance announced a 91-day T-bill auction with a total face value of LE600 million. The issue date is January 25 and the maturity date is April 26. The final date for bids is January 24.
Prime Securities S.A.E.
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