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TAGGED AS ORASCOM

Orascom finalizing Wind’s ‘strategic position’ as sale is still on the table

telecom | 08/07/2013 7:17 pm EDT

Wind Mobile’s Canadian subscriber base rose by 18,732 customers during the second quarter as its owners worked to establish the company’s strategic position in advance of a possible sale, Wind majority investor Orascom Telecom Holding S.A.E. said. In a financial statement released Wednesday, Orascom, owned by parent company VimpelCom Ltd., said Wind had 620,451 customers across Canada at the end of the three-month period that ended June 30, an increase of three per cent from the end of March. In comparison, it added 11,281 subscribers in the first quarter and 41,522 in the second quarter of last year. Orascom said Wind had an average revenue per user of $28.30 per month during...

Orascom to continue ‘working with government’ on Wind deal

telecom | 06/19/2013 8:47 pm EDT

Orascom Telecom Holding S.A.E., owned by Amsterdam-based VimpelCom Ltd., said it is withdrawing a request to Industry Canada to acquire control of Wind Mobile, though it still wants to work with the government to consolidate its interest in Wind. Wind Mobile, owned by Globalive Wireless Management Corp., announced a plan in January to transfer its control to VimpelCom, and last October Orascom filed an application with Industry Canada to make that transfer under the Investment Canada Act. The deal to transfer ownership had a June 30 closing date and Orascom's application was delayed without a decision from the department. Orascom said in its statement Wednesday that “after a...

Sawiris re-enters Canadian market with deal for Allstream

telecom | 05/24/2013 6:40 pm EDT

Former Wind Mobile backer Naguib Sawiris said he is re-entering the Canadian telecom market with a “long-term commitment” and the purchase of Allstream from Manitoba Telecom Services Inc....