Hit by divestments and adverse currency movements in Pakistan, Tunisia and Algeria, Orascom Telecom's revenues fell 8% year-on-year to 1.2 billion US dollars in the first quarter of 2009. Mobilink, Orascom's Pakistan operation, was also hit by the domestic economic and political crisis and its revenues fell 1% in local currency terms.
There was better news from Bangladesh, where banglalink increased subscribers 30% year-on-year to more than 10 million. Group capital expenditure in the quarter fell 32% to 210 million US dollars compared with the same period in 2008 as Orascom focused on generating cash. source: Orascom Telecom statement
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