Orascom May Make Offer (Folo) Nokia and Motorola Lift Share of Global Mobile Market

Orascom Telecom Holding, the largest mobile phone operator in the Middle East and North Africa by number of users, may bid for a stake in Hutchison Essar, one of the biggest cellphone operators in India, its chief executive said, Bloomberg News reported from Cairo. “If the price is low, we will make a bid,” the Orascom Telecom chairman and chief executive, Naguib Sawiris, said Thursday. “We can do it on our own.” Orascom Telecom, which has about 50 million subscribers, is making acquisitions abroad to become one of the world’s Top 10 mobile phone companies. Hutchison Telecom, controlled by the Hong Kong billionaire Li Ka-shing, owns 67 percent of Hutchison Essar, while Essar Group owns the rest.

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