Latin Fever Grips Orascom Telecom Interest

Egypt-based Orascom Telecom has a war chest worth an estimated US$5bn to invest in M&A activities, after losing out to UK mobile giant Vodafone in the battle to acquire a 67% stake in Hutchison Essar, India's fourth largest mobile operator. The Egyptian operator, which found itself priced out of the competition, following Vodafone's US$11.1bn bid, continues to look for new growth avenues, having announced in the same month as the failed India bid, the purchase of Greek mobile operator TIM Hellas.

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