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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Wednesday, August 26, 2009

Orascom Held Back by Pakistan

Orascom Telecom said its revenues in the first half of 2009 fell 2% year-on-year to 2.45 billion US dollars due to adverse currency movements. In local currencies, revenues rose 7% in Algeria and 22% in Tunisia, while falling 2% in Pakistan.

Group capital spending fell 41% year-on-year to 591 million US dollars in the first half of 2009, as Orascom cut back on investments in Pakistan and Bangladesh to boost its cash flow. source: Orascom Telecom statement

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