Egypt’s Naguib Sawiris has confirmed that he is in discussions with France Telecom regarding a bid for the company’s Swiss subsidiary, Orange Switzerland.
He is currently in talks with other partners to raise the US$2.8 billion needed for the deal.
"I wouldn’t do it alone," Sawiris told Bloomberg News in a telephone interview. "We are looking for partners." Sawiris, the founder of Orascom Telecom Holding, said four bidders have been selected to make offers, with final bids due by the end of the year.
He also confirmed that he has no plans to for any sort of asset swap with France Telecom – which is a co-owner of Mobinil network in Egypt.
Sawiris has also been linked with a possible takeover of Telekom Austria.
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