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amnesia
Joined: Jan 15, 2004
Posts: > 500
From: Doha, London, Tokyo, Shanghai
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Egyptian businessman buys Italy's Enel telecom unit
Posted: 26-05-2005 , 12:56 GMT
Enel S.p.A. (Enel) and Weather Investments S.A.R.L. (Weather), a company controlled by Egyptian businessman Naguib Sawiris, have signed the agreement to sell Wind Telecomunicazioni S.p.A. (Wind) to Weather. The total value of the transaction is €12.138 billion, it was declared Thursday.
The agreement provides for a transfer of 62.75% of Wind to Weather. At the same time, Sawiris will contribute a stake of 50% plus one share in Orascom Telecom Holding (OTH), the telecommunications company listed in London and Cairo, to Weather.
Enel and Weather have also signed a put and call agreement according to which, in the timeframe between 15 January 2006 and June 30 2006, Enel can transfer and Weather can acquire from Enel the remaining stake of Enel in Wind.
Once the transaction is completed, Enel will receive €3,009 million cash and a stake of 26% in Weather (which will control 100% of Wind and 50% plus one share of Orascom), which is valued at €1,960 million. Upon transfer of its 62.75% of Wind to Weather, Enel will be able to deconsolidate approximately, €7 billion in Wind debt.
Paolo Scaroni, CEO of Enel commented: “With the sale of Wind we have completed the disposal of all businesses unrelated to our core activities in electricity and gas, in accordance with the strategy announced three years ago. The exit of the telecommunications business from the Group’s activities will enable Enel to focus its growth on energy in Italy and abroad.”
The Wind consolidated financial statements for 2004 approved by the Shareholders’ Meeting on 24 March 2005 show revenues of €4,714 million, up 7.6% on the €4,383 million posted in 2003, EBITDA of €1,554 million, an increase of 53.8% with respect to the €1,010 million in 2003, and EBIT of €41 million compared with the negative result of €384 million recorded a year earlier.
The agreement will also lay the foundation for closer cooperation between Wind and Orascom, aiming at a substantial increase in revenues and margins. More specifically, the two companies will aim at expanding their market share in telecoms traffic to and from Europe, the Mediterranean basin and all other countries where Orascom has and will have a key role. Moreover, coordination between the two companies will create a critical mass capable of producing considerable savings, especially in purchasing (e.g. handsets) and capital expenditure.
The transaction will take place on the following financial basis.
At first closing, expected by the 2005 summer on the condition that the transaction receives approval from regulatory authorities, Enel will sell to Weather 62.75% of Wind for € 2,986 million. Enel will use part of the proceeds, equal to €305 million, to acquire a 5.3% interest in Weather.
In the first half of 2006, Enel could transfer its remaining stake in Wind (37.25%) for a consideration of €328 million in cash and newly issued Weather shares that will bring its total equity holding in Weather to 26%.
Enel and Sawiris have signed shareholders’ agreements that will govern Weather operations. As part of the arrangements, the parties have agreed on the goal of pursuing a listing for Weather as soon as possible, depending on market conditions, and have undertaken reciprocal lock-up until the company goes public.
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amnesia
Joined: Jan 15, 2004
Posts: > 500
From: Doha, London, Tokyo, Shanghai
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according to one of our esato members, the phone has been out for the past 5 days.
I'm talking about the K750 with arabic support
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mustafabay
Joined: Sep 27, 2004
Posts: > 500
From: Egypt
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5 days in which country? UAE?
BTW, I think technically Nagid Sawiris didn't buy Wind but Orascom telecom, which he owns most of, did.
Also it seems half of Egypt's big companies are owned by the Sawiris family. |
amnesia
Joined: Jan 15, 2004
Posts: > 500
From: Doha, London, Tokyo, Shanghai
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whoops i meant Bahrain.
As for that article, I got it straight from
http://www.menareport.com/en/business/184112
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amnesia
Joined: Jan 15, 2004
Posts: > 500
From: Doha, London, Tokyo, Shanghai
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http://www.menareport.com/en/business,IT_and_Telecom/183950
Omani-Qatari Telecommunications Company increases mobile phone coverage in Oman
Posted: 23-05-2005 , 12:42 GMT
The Omani-Qatari Telecommunications Company Al Nawras on Sunday announced that its services has now covered all the Sultanate of Oman’s regions and governorates through the local mobile agreement signed with the Omani company for Mobile telecommunications (Oman Mobile).
According to ONA, Al Nawras Executive President said the agreement with Oman Mobile enables Al Nawras subscribers to use local mobile in sites which are not currently being covered by Al Nawras Co. until these sites are covered in future. He noted that the coverage include all parts of the Sultanate.
He added that with this agreement Al Nawras coverage will rise from 60% to 84% by the end of this year to reach 99% during the coming five years.
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solidsingh
Joined: Jan 15, 2004
Posts: > 500
From: india
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salaam everyone
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Xajel
Joined: Jun 18, 2004
Posts: > 500
From: Bahrain
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Wa 3alaykom al salam bro's
Yeh it's here @ Bahrain since 2 days ( 31 May ) & cost BD169 in the agent ( Fakhro Electronics ) in the Exhibition Road @ Manama
and also they have the Z800 for BD235
about K700 is still for BD112 with Bluetooth Headset |
amnesia
Joined: Jan 15, 2004
Posts: > 500
From: Doha, London, Tokyo, Shanghai
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Salam singh.
@Athalon, 3alashan chithee ana ashtiri il tilifoonat fee landan wa abee3hum fil Bahrain 
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Nuttey
Joined: Oct 24, 2004
Posts: 13
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I hate the attitude in the mid-east where nokia is better than everything else because it's a Nokia..
Anyhow, is 3G up and running in Dubai and/or Riyadh? |
amnesia
Joined: Jan 15, 2004
Posts: > 500
From: Doha, London, Tokyo, Shanghai
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yes in Dubai and No in Riyadh, although it's the speeds are supposed to be coming soon.
I know what you mean about everyone being Pro-Nokia.
It's because they were the first with good mobiles to be honest.
It's changing though, everyone I know either uses SE or Samsung now.
With sms messages working with each other it's great (i mean from phone to phone)
I remember alot of friends wanted Nokia's to get those picture messages that only can be seen on Nokias.
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solidsingh
Joined: Jan 15, 2004
Posts: > 500
From: india
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yeah i remember those nokia picture messages, pretty good, i think samsung are the best in the phone market now
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Xajel
Joined: Jun 18, 2004
Posts: > 500
From: Bahrain
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@amnesia...
sudg !!!
how much they cost there ??
sorry for miscosting.. the K700 sold in agent for BD119 and BD112 others... if you want it alone you can take it for BD105 |
amnesia
Joined: Jan 15, 2004
Posts: > 500
From: Doha, London, Tokyo, Shanghai
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il tilifoonat yinba3oon 3ala 120 ila 150 hag il zaineen. i can get around 50 dinar profit.
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Nuttey
Joined: Oct 24, 2004
Posts: 13
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3aref an al 7600 illy kan yiba3 bi 5amseen pound yiba3 fee alsi3oodiah be sab3miyah? |
Buzadam
Joined: Apr 26, 2005
Posts: 2
From: Turkey
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hellooo all arabian people. from Turkey Republic. We love middle east..
This message was posted from a WAP device | |
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Access the forum with a mobile phone via esato.mobi
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Posted: 2005-05-29 14:07
