ORASCOM TELECOM SUSPENDS ITS OPERATIONS IN TCHAD MOBILE

Telecoms

Orascom Telecom announced last week that it has suspended its operations in Chad Tchad Mobile as a result of unresolved disputes with the Government concerning the transfer process of Tchad Mobile shares from their previous owner to OT. OT has stipulated in a press release that it has paid the required amount for the associated acquisition in total, among other issues.

Tchad recorded 32,222 subscribers as of March 2004, sporting an ARPU level of USUSD21, representing less than 0.4% and 0.1% of OT.s consolidated revenue and EBITDA respectively, as of 1Q FY04, with the impact of discontinuing operations negligible to overall performance. OT believes its next step will be the divestiture of Tchad Mobile, and is expected to initiate associ- ated legal proceedings.

Prime Securities