The Bahrain Telecommunications Company's Middle East subsidiary has signed an agreement to acquire 48 percent of Egyptian internet service provider SofiCom Communications, continuing regional expansion, the Daily Star reported Tuesday.
Citing a press release by the company, the daily said, "the Batelco Middle East Company will have control over the decision-making and management of SofiCom. The remaining shares will be held by the Egyptian firm EgyNet, an internet content provider, and two individual owners".
SofiCom, founded in 1995, is one of Egypt's top three ISPs, said the statement, which did not put a value on the acquisition. The ISP provides dial-up, lease line, web hosting, and corporate solutions -- Albawaba.com
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