Egyptian mobile operator Orascom Telecom has changed its name to meet the wishes of its shareholders.
The company will now go by the name of Global Telecom Holding SAE and have its ticker name changed on the London and Egyptian stock exchanges.
The decision to remove ‘Orascom’ from the company name was taken by shareholders on November 12, 2012, last year.
“Our new name and corporate identity are intended to provide a modern look and feel, and emphasise our specific strengths as an international telecom group,” said Ahmed Abou Doma, group chief executive officer (CEO) of Global Telecom Holding SAE said.
“The Global Telecom Holding S.A.E. new corporate identity allows our group to leverage on the goodwill, the strong growth and outstanding performance of our parent company VimpelCom Ltd. and will provide our organization with a solid platform to build upon in our upcoming endeavors and growth potential in the telecom sector.”
Global Telecom Holding SAE has around 85 million subscribers in Egypt.
