Egyptian businessman’s bid for Lebanese telecom license rejected
Lebanese Telecommunications Ministry rejected an bid, made by Egyptian businessman Najib Sawires, for the country’s mobile phone operating license. The ministry provided no official explanation for its rejection of the offer, amid calls for Telecommunications Minister Jean-Louis Qordahi to explain the reason behind the refusal of the offer.
Najib Sawiris became Chairman of Orascom Telecom in 1979, and is also Chairman of other companies such as Orascom Technology Systems, and Egyptian Company for Mobile Services (ECMS). Sawiris is Vice President of Orascom Construction Industries and Orascom Trading and Industry, as well as being a member of the Egyptian Counsel for Foreign Affairs.
Orascom Telecom holds licenses for GSM networks in over twenty countries and as such, it is the largest GSM network operator in the Middle East, Africa, and Indian sub-continent. The company also has subsidiaries in the fields of internet and satellite technologies. Orascom Telecom is publicly traded on the Cairo and Alexandria Stock Exchanges in Egypt and the London Stock Exchange. — (menareport.com)
© 2003 Mena Report (www.menareport.com)