Mobinil, others bid for Orascom's Link Egypt: paper
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Mobinil, others bid for Orascom's Link Egypt: paper UPDATED 28 Jul 2009 | 08:08  
Mobinil, others bid for Orascom's Link Egypt: paper

CAIRO (Reuters) - Mobinil, Telecom Egypt and Vodafone Egypt have submitted bids to buy Link Egypt, an information technology unit of Orascom Telecom, the daily al-Mal reported on Tuesday.

Two other unnamed financial institutions have also submitted bids by the Monday deadline, according to the paper, citing OT's Chief Operating Officer Khaled Bichara.

Mobinil is Egypt's largest mobile operator by subscribers and is 35 percent owned by Orascom.

Bichara said five firms had already completed due diligence on Link Egypt, and that OT and consultant EFG-Hermes would begin examining the bids, al Mal reported.

OT Chairman Naguib Sawiris told a newspaper earlier in July that Mobinil, Vodafone Egypt and Telecom Egypt and unnamed financial institutions were competing to buy internet service provider LinkDotNet.

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