ROMA - Egyptian businessman Naguib Sawiris Friday said he is and will remain a long-term investor in the Italian market with telecommunication company Wind SpA and committed to invest in the country's fourth-generation telecom network. In a statement issued after meeting Wind's management in Italy, Sawiris said he will focus on developing key strengths and exploiting new opportunities in order to boost Wind's growth. "We are also aiming to position Wind as the market consolidator in both fixed line and mobile, in addition to our serious intention to invest in the 4th Generation telecom network," he added. Sawiris owns Wind and a 51 per cent stake in Egypt's Orascom Telecom Holding SAE (ORTE.CI) through his holding company Weather Investments. Russian telecommunications operator Vimpel Communications Ltd. (VIP) has recently confirmed it is in talks with Weather to buy Egyptian and Italian telecommunications assets. Wind is the third largest Italian mobile operator, with 19.3 million customers, and the second largest alternative provider of fixed-line services, with 2.9 million voice subscribers and 1.77 million broadband customers as of June 30, 2010.
