Tunisiana stake sale to cut Orascom debt -Weather - Reuters

CAIRO | Mon Nov 22, 2010 2:48am EST

CAIRO Nov 22 (Reuters) - Proceeds from the sale of Orascom Telecom's (OT) (ORTE.CA) stake in Tunisian mobile phone operator Tunisiana will be used to cut OT's debt, its parent company Weather Investments said on Monday.

Weather agreed on Oct. 4 to sell most of Orascom Telecom's assets to Russian telecoms operator Vimpelcom (VIP.N).

"...the proceeds of the sale will be used in part to repay Orascom Telecom's outstanding indebtedness and will therefore reduce the amount of indebtedness that will need to be refinanced by Vimpelcom as a result of the transaction," Weather said. (Reporting by Tom Pfeiffer

*We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters.

This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php
Five Filters featured article: Beyond Hiroshima - The Non-Reporting of Falluja's Cancer Catastrophe.

lvnv funding lvnv nco financial debt