Egypt: Orascom seeks two of nine seats on Oi’s board

Telecompaper.com  27.12.2016

 

Orascom TMT Investments will have two of the nine seats available on the board of Brazilian telephone company Oi, if its proposal to buy the company is successful, Orascom representative Karim Nasr told Reuters.

 

Orascom TMT Investments will have two of the nine seats available on the board of Brazilian telephone company Oi, if its proposal to buy the company is successful, Orascom representative Karim Nasr told Reuters. The remaining seats would be filled by four independent people and three nominees of new shareholders, especially Oi’s creditors who agree to take part in a capital injection. So said Nasr, who represents Egyptian billionaire Naguib Sawiris, owner of Orascom. He added that Oi is not negotiating with Orascom exclusively, and no non-disclosure agreement has been signed.

 

https://www.telecompaper.com/news/orascom-seeks-two-of-nine-seats-on-ois-board—1177542

 

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