Nobel: The Prize That Honours Conscience, Not Power — and María Corina Machado, Who Changed the Equation    Egypt's PM, Kenya president discuss cooperation on sidelines of COMESA summit    Egypt reconstitutes board of State Information Service    Egypt Writes Calm Anew: How Cairo Engineered the Ceasefire in Gaza    Egypt's Sisi: Gaza ceasefire embodies 'triumph of the will for peace over the logic of war'    URGENT: Egypt's annual core inflation hits 11.3% in Sept – CBE    Sisi invites Trump to Egypt to sign Gaza peace deal if talks succeed    Egypt's acting environment minister heads to Abu Dhabi for IUCN Global Nature Summit    Egypt's oil sector posts $598.3m net FDI inflow in FY2024/25 – CBE    Egyptian Open Amateur Golf Championship 2025 to see record participation    Egypt to meet IMF next week to set date for fifth, sixth reviews – PM    Cairo's Al-Fustat Hills Park nears completion as Middle East's largest green hub – PM    Al-Sisi reviews education reforms, orders new teacher bonus starting November    Egypt's Cabinet approves new universities, church legalisations    Investment Ministry, Future of Egypt Authority discuss strengthening supply chains, strategic commodity procurement    Saint-Gobain Egypt targets doubling exports to Africa to €120m annually    Egypt's UPA launches new version of MedIQ medical procurement system    Egypt urges Netherlands to increase investment, stresses Nile water security    Egypt's Foreign Minister, German counterpart hold political consultations in Cairo    Egypt's Sisi congratulates Khaled El-Enany on landslide UNESCO director-general election win    URGENT: Egypt's Khaled El-Anany unanimously elected UNESCO director-general    Syria releases preliminary results of first post-Assad parliament vote    Karnak's hidden origins: Study reveals Egypt's great temple rose from ancient Nile island    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Egypt reviews Nile water inflows as minister warns of impact of encroachments on Rosetta Branch    Egypt's Al-Sisi commemorates October War, discusses national security with top brass    Egypt screens 22.9m women in national breast cancer initiative since July 2019    Egypt's ministry of housing hails Arab Contractors for 5 ENR global project awards    Egypt drug regulator, Organon discuss biologics expansion, investment    A Timeless Canvas: Forever Is Now Returns to the Pyramids of Giza    Egypt aims to reclaim global golf standing with new major tournaments: Omar Hisham    Egypt to host men's, juniors' and ladies' open golf championships in October    Egyptian Writers Conference announces theme for 37th session    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Egypt's Sawiris eyes Brazil's GVT in Telecom Italia bid: Reports
Egyptian Tycoon Naguib Sawiris is to buy a stake in Telecom Italia to back its bid for Brazil's Global Village Telecom
Reuters Published in Ahram Online on 13 - 11 - 2012

The Egyptian tycoon Naguib Sawiris has offered to buy a stake in Telecom Italia with a view to helping fund the acquisition of Vivendi's 's GVT unit inBrazil, Italian newspapers said on Tuesday.
Sawiris, who sold out of the rival Wind network last year, now wants to re-enter Italy's telecoms sector by investing in the incumbent operator.
Telecom Italia says Sawiris's offer is aimed at bringing in fresh capital "dedicated to growth projects".
According to Il Messaggero, Sawiris wants to invest 3-4 billion euros in Telecom Italia to back its bid for Brazil's Global Village Telecom which is being sold by Vivendi.
A report in Corriere della Sera also says the money from Sawiris would helpfinancethe purchase of GVT.
French communications conglomerate Vivendi SA is seeking to raise at least 7 billion euros($8.9 billion) from the sale of GVT and has attracted expressions of interest from at least four bidders, including Telecom Italia.
The shareholders of Telco, the vehicle that controls Telecom Italia, are split on their approach to the Sawiris offer, Il Sole 24 Ore said.
Intesa Sanpaolo is in favour, Mediobanca is neutral while insurer Assicurazioni Generali and Spain's Telefonica are against, it said.
The paper added the Sawiris offer is 3 billion euros.

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