[Reuters] France Telecom (FT) has not responded to Orascom Telecom's (ORTE.CA) offer of direct negotiations to resolve their dispute over Egyptian mobile operator Mobinil, the chairman of Orascom said on Wednesday. Naguib Sawiris also told Reuters that Egypt's market regulator CMA should release the details of France Telecom's obligatory tender offer for all shares in Mobinil (EMOB.CA).
OT and France Telecom own a holding company with a 51 percent stake in Mobinil and the Egyptian stock exchange suspended trade in both OT and Mobinil shares from Tuesday after the CMA said it was examining the FT offer.
"We believe this reaction from the CMA (Capital Markets Authority) is not sustainable and they should let our shares trade or announce the details of the offer," he said.
Sawiris also said OT's hopes of acquiring a stake in Morocco's Medital were "dimmer" due to higher bids.
Orascom Telecom says no France Telecom reply yet
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