Orascom gets foothold in India
Category: News | No Comments | Posted on December 23, 2005
A month after Vodafone stepped into India through a stake in Bharti, its arch rival Orascom Telecom has got a foothold in the country.
The Cairo-based telecom major Orascom Telecom has picked up a 19.3% stake in the Hong Kong-based Hutchison Telecom, which holds a 42% stake in Hutchison Essar.
Orascom Telecom Chief Executive Officer Naguib Swiris, who announced that his aim was to emulate Vodafone by building a mobile empire, said the acquisition would help it to enter India.
“We have often expressed our keen interest to enter some of the largest and highest growth mobile markets in the world like India, Indonesia and Vietnam. The tieup with Hutchison Telecom presents Orascom Telecom with exposure to these markets,
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