Orascom Telecom said that its total subscribers were almost 89 million at the end of September, an increase of 12% over September 2008. In the first nine months of 2009, in local currencies, revenues in Algeria increased by 6%, revenues in Pakistan were stable, in Tunisia rose 21%, in Egypt were up 6% and in Bangladesh soared 25%.
Naguib Sawiris, Chairman and CEO, said: “While the economic environment has improved in recent months the competitive environment remains challenging; in this context OTH has continued to perform well, although 2009 will be a year of slower growth than 2008, in line with our forecasts." The group's capital spending in the first nine months was down 37% to 897 million US dollars. source: Orascom Telecom statement