Mobinil Sets Deadline For LINKdotNET Acquisition

Egyptian Company for Mobile Services (MobiNil), Egypt’s largest mobile network operator by subscribers, has revealed that it has set a deadline by which it aims to complete the acquisition of broadband provider LINKdotNET (Egypt), Reuters is reporting.

MobiNil, which is currently at the centre of an ownership dispute between France Telecom and Egyptian telecoms group Orascom Telecom, has said that it aims to finalise the acquisition of LINKdotNET from Orascom within a month, with MobiNil chairman Alex Shalaby noting: ‘We have set an internal target, within the board, that we would like to see this completed and concluded within 30 days, within a month from the board meeting yesterday [9 March].’ The development follows reports in December 2009 that saw Orascom announce it had suspended sale talks until the MobiNil ownership dispute.  Earlier this week it was reported that an Egyptian court had delayed the next ruling on the matter until 27 March.