Orascom In Bid To Acquire Polish, Serbian Operators

Orascom Telecom Holding chairman Naguib Sawiris has told Egyptian state-owned newspaper, al-Ahram that his company is looking at acquiring Polish mobile phone operator Polkomtel and Serbia's Telekom Srbija. Sawiris did not reveal details of either acquisition.

Polkomtel is currently 21.85% owned by Poland's largest power group, PGE, while oil refiner PKN Orlen and copper miner KGHM Polska Miedz each hold 24.39%. Polish state-owned coalminer Weglokoks has 5%, while Vodafone Group holds 24.39% of shares. Telekom Srbija meanwhile is 80% state-owned, but in March the government announced plans to sell half its stake. Greece's Hellenic Telecommunications Organisation (OTE) owns the remainder.

Orascom Telecom itself is majority owned by Rome-based Weather Investments. Sawiris and his family own the majority of Weather, which owns 51% of Orascom Telecom Holding, plus Italian cellco Wind Telecomunicazioni and Greek telco Wind Hellas.