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Orascom Invests in Mobile Ad Firm

(28 May 2008, BWCS Staff)

Egyptian-based mobile powerhouse Orascom Telecom has poured US$10 million worth of investment into mobile advertising and marketing outfit MyScreen Mobile Inc. The move will see Orascom become a minority investor and give MyScreen access to the mobile operator's extensive customer base.

Orascom boasts over 70 million subscribers spread across the Middle East, Africa and Southern Asia. In addition it has some 18 million subscribers to its affiliate companies Wind Italy and Wind Greece. It operates mainly in high-growth markets such as Pakistan, Egypt, Algeria, Bangladesh, Tunisia, and Zimbabwe and recently moved into North Korea.
Naguib Sawiris, Chairman and CEO of Orascom Telecom said "We believe that MyScreen will play an important role in allowing us to pursue plans to include mobile advertising in our business model."

Orascom said that it is seeking new revenue sources that are first and foremost customer friendly and deliver value to its rapidly growing subscriber base. Michael O'Connor, Orascom's Investment and Business Development Officer, commented that "After extensive research and evaluating several different opportunities, we chose MyScreen as it is one of the most compelling opportunities we have seen in the past 10 years," and added that "this was Orascom's first strategic investment in a technology company."



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