April 13, 2009 / 10:36 AM / 11 years ago

Egypt Orascom says still prefers to keep Mobinil stake

CAIRO, April 13 (Reuters) - Egypt’s Orascom Telecom ORTE.CAORTEq.L said on Monday it would not extend a deadline for the sale of its stake in Mobinil to France Telecom FTE.PA beyond April 15 and that it would prefer to retain its holding.

Orascom earlier said it was offering to extend the deadline for implementing a court order for selling its Mobinil EMOB.CA shares to April 15, after saying on Thursday the deal had not gone through because France Telecom had not sent payment.

When Orascom Chairman Naguib Sawiris was asked if his firm would agree to an extension beyond April 15, he said: “It’s done, we won’t accept it.” He also said Orascom would prefer to keep the Mobinil stake. (Reporting by Will Rasmussen, writing by Edmund Blair)

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