Global Telecom Holding

Global Telecom(GTH)is a mobile telecommunications company engaged primarily in network operation activities in the Middle East, Africa and Asia. Its segments include Global System for Mobile Communications, which covers mobile telecommunications services activities of the Company. In July 2010, OTH completed the sale of its Internet services arm, LINKdotNET and Link Egypt, to the Egyptian Company for Mobile Services. In January 2011, it completed the sale of Orascom Tunisia Holding Ltd and Carthage Consortium Ltd.
Financial Performance:
In October 2010, Russia.s GTH signed an agreement with Wind Telecom to merge their telecom assets, creating the world.s sixth-largest mobile phone company by subs with pro forma EBITDA of USD9.4bn for 2009. Accordingly, a refinancing plan worth USD2.73bn was approved by ORTE shareholders, as well as increasing its authorized capital to EGP14bn. As per the merger agreement, ORTE will spin off a number of its assets into a new company, Orascom Telecom Media and Technology (OTMT), which will hold assets not intended to be part of the VimpelCom-Wind Telecom group, including interests in Mobinil, Koryolink in North Korea, OT Ventures, and other media and technology investments. OTMT will hold the similar shareholder structure as ORTEs, as of the spin-off date. Then, a voluntary share buyback by OTMT is planned to be offered to OTMT minorities in exchange for shares in Mobinil and cash.