Global Telecom posts net profit of $13m
CAIRO, November 6, 2015
Global Telecom, the Egypt-based group formerly known as Orascom Telecom, reported a $13 million net profit for the third-quarter of 2015 compared to a $157 million loss in the same period last year, it said in a statement.
The company, which is 51.9 per cent owned by VimpleCom, said its net loss attributable to shareholders in the quarter was $32 million versus a $161 million loss last year.
Minority interest increased due to the sale of a 51 per cent stake in OTA in Algeria, the company said. - Reuters