Orascom Telecom loss narrows to $83m
Cairo, March 13, 2012
Orascom Telecom, the Egyptian company bought last year by Russia's Vimpelcom, narrowed its losses in the fourth quarter to $83 million compared to a year earlier when it was hit by impairment charges.
The firm posted a loss of $170 million in the same period of 2010.
Orascom was expected to report a net income of $70 million, according to the average analyst forecast in a Reuters poll. - Reuters
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