Orascom Telecom said that all the markets in which it operates, except Pakistan, will continue to "show robust performance" in 2009. Orascom said it will remain cautious about investing further in Pakistan until it sees early signs of recovery.
Orascom Telecom expects its operations to continue to generate substantial cash flow, in particular in Algeria, Egypt and Tunisia. In Pakistan and Bangladesh, the company plans to reduce capital spending in line with the slower market demand for mobile services. Orascom added that its new business in North Korea should become EBITDA positive in the first year of operation.
In 2008, the group recorded at 13% increase in revenues to 5.33 billion US dollars, while capital spending was flat at about 1.58 billion US dollars. source: Orascom Telecom statement
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