Orascom Telecom Holding recently announced today that its Internet-subsidiary LINKdotNET has finalized a merger valued at 365 million Egyptian pounds through a share swap agreement, confirmed a company statement. As a result of the acquisition, Oras original 63.7 percent stake in LINKdotNET will translate into a 43.35 percent stake in the merged entity, with an option to increase to 53 percent.
Through this deal LINKdotNET will be comprised of nine online businesses: Arabfinance, CareerMidEast, E-Dar, El3ab, Masrawy, Mazika, Nilemart, Otlob, and Internet Egypt. Under the terms of the agreement, LINKdotNET will acquire majority shareholding in each of these Internet companies through a share swap including shares owned by the National Telecommunications Company (NTC), Commercial International Investment Company (CIIC), and EFG-Hermes. LINKdotNET plans to merge the different operations of this acquisition into a single operational structure over the next 12 months. — (menareport.com)
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