Orascom Telecom Holding (OTH) is in talks with Zimbabwe, which wants to cut OTH's stake in its Telecel Zimbabwe unit from 60 percent to 49 percent. Zimbabwe law requires domestic ownership of majority stakes in foreign companies. Meanwhile, OTH hopes to acquire several websites through its new spinoff company, Orascom Telecom Media & Technology (OTMT). The new entity has LE 500 million for acquisitions.
Source: American chamber of commerce Press release.