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Orascom Telecom Holding Announces the Sale of LINKdotNET and Link Egypt to Mobinil
Orascom Telecom Holding S.A.E. (“OTH” or “the Company”) announces that it has concluded the sale of its internet services arm LINKdotNET and Link Egypt (“LINK”) to the Egyptian Company for Mobile Services (“Mobinil”).
InTouch Communications S.A.E, a wholly-owned subsidiary of OTH has signed today a share sale and purchase agreement with Mobinil for the sale of LINK. The sale excludes the non-ISP part of Link Egypt’s business and affects LINKdotNET’s Egyptian operations only. The other non-connectivity business, LINK Development, LINKonLINE, Connect Ads, Arab Finance Brokerage Company and Arpu+ will remain owned by OTH.
The deal is a cash transaction based on an enterprise value of USD 130 Million. The business represents 56% and 90% of the revenue and EBITDA of OTH Internet Services respectively.
The sale will allow Mobinil to extend broadband and corporate communications services to its more than 26 million customers; and create value for its shareholders and its 3,500 employees. Mobinil and LINK’s customers will benefit from the expected synergies between both entities, including combined offerings, expansion of distribution channels and integrated solutions (single portal, single support, single bill, complementing solutions). Whereas, Mobinil’s shareholders will capitalize on the expected synergies between the two entities, such as lower churn rate on both sides, a more convenient customer experience, more competitive solutions against competition, infrastructure savings and cost savings.
Khaled Bichara, Group Chief Executive Officer of OTH, said: “We are delighted to have concluded this deal. As per the trend in the global telecom industry, the convergence between ISP’s and operators clearly enhances the value for both businesses and enriches the value offering to their consumers.”
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About LINKdotNET:
LINKdotNET, the leading Internet Service and Solutions Provider, is a subsidiary of Orascom Telecom Holding Company, the largest integrated telecommunications services provider in the region.
LINKdotNET has regional offices in Dubai, UAE; Riyadh, KSA; Qatar; Algeria; and Islamabad, Pakistan. The company employs more than 1400 consultants, web developers and support staff in Egypt and the Region to deliver world class Internet and e-solutions to its users and clients.
The company has won several awards and earned a variety of certifications in Internet-related fields. LINKdotNET is a Microsoft Gold Certified Partner in Integrated E-Business Solutions, Microsoft Business Solutions, Custom Development Solutions, Information Worker Solutions and Advanced Infrastructure Solutions. LINKdotNET is also ISO 9001:2001 and CMMI level 3 certified.
LINKdotNET also won the award of the best internet service provider in the Middle East and North Africa.
LINKdotNET is, in brief, the Region’s powerhouse that provides, maintains, develops and promotes Internet solutions and services.
For further information please visit our website at www.link.net
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