Orascom Telecom’s Expansions Likely To Boost EGX; Says Expert

Orascom Telecom Holding (ORTE.CA)’s expansion in Canada through a deal with Wind Mobile Canada will likely boost earnings, thanks to the Canadian robust market, which will likely bolster the Egyptian Exchange (EGX), Mohamed Gab Allah, CFO, Arab Finance told CNBC Arabia.

Egyptian telecommunications company Orascom Telecom Holding S.A.E. said Friday that it’s boosting its stake in Wind Mobile Canada, a relatively new player in Canada’s wireless sector, after agreeing to acquire Wind Mobile founder Anthony Lacavera’s stake in the company.