France Telecom has agreed to buy Motorola's stake in MobiNil for $252m in cash, giving it majority control of Egypt's largest mobile phone company, Financial Times reported.
France Telecom was quoted by the daily as saying that it would buy a 25 percent stake held by Motorola, the US mobile handset manufacturer, which will give it 71.25 percent of MobiNil.
According to the paper, the France Telecom plans to transfer its holding in MobiNil to Orange, the division that regroups its mobile phone assets, once it has completed the unit's planned flotation -- Albawaba.com
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