DOCSLIB.ORG

C O M PA N Y N O T E Orascom Telecom and Orascom Telecom

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
C O M PA N Y N O T E Orascom Telecom and Orascom Telecom EGYPT | TELECOMS January 22, 2012 Orascom Telecom and Orascom Orascom Telecom Telecom Media & Technology STRONG BUY (UPGRADED) LTFV: EGP4.8 | USD4.0 TP: EGP3.9 | USD3.2 Who wins and who loses? After two months, Orascom Telecom Holding [ORTE] ordinary shares will Orascom Tel. Media & Tech. resume trading on Sunday, Jan. 22, 2012, after the company secured HOLD (INITIATED) approvals of the regulator and the Egyptian Exchange (EGX). Trading of ordinary shares of Orascom Telecom Media & Technology Holding (OTMT), LTFV: EGP1.6 | USD1.3 which demerged from ORTE, will commence on the EGX on the same day. TP: EGP1.6 | USD1.3 Each ORTE ordinary share held as of Nov. 24, 2011 will receive one OTMT ordinary share, with a price tag of EGP1.73 and EGP1.25 based on a 58%- ORTE (POST-DEMERGER) VS. DJEZZY'S VALUATION 42% split ratio off Nov. 24, 2011 closing price of EGP2.98, respectively. 2.50 Meanwhile, GDS record date was Friday, Jan. 20, 2012 with the same 1-to-1 2.00 ratio for eligible1 ORTE GDS holders. Meanwhile, conversion of ORTE 1.50 shares into GDSs and vice versa will resume on Monday, Jan. 23, 2012. This SD U 1.00 week, we expect volatility in trading both ORTE and OTMT ordinary shares 0.50 and GDSs as they adjust to reach parity. Since Nov. 24, 2011, ORTE GDS has jumped 39%, implying a split of USD1.89 for ORTE (post-demerger) and - USD1.37 for OTMT. In this note, we update our forecasts and valuation for ORTE (post-demerger) and OTMT shares and lay out different potential scenarios for Algeria. We also spell out what we think both OTH and OTMT Djezzy's EV/EBITDA & its implied 100% equity valuation shares will likely behave when they start trading on Sunday. Source: CI Capital Research OTMT VS. MOBINIL'S STOCK PRICE Orascom Telecom Holding 2.00 We believe recent negotiations between VimpelCom and the Algerian government 1.80 1.60 over Djezzy, coinciding with the final phase of the ORTE-OTMT demerger 1.40 1.20 process, would continue to act as a catalyst for ORTE's local shares. We have SD U 1.00 updated our forecasts for ORTE (pre-demerger), pending more disclosure from 0.80 OTMT and the issuance of pro forma financials. Post-demerger, we upgrade our 0.60 0.40 rating for ORTE from Buy to Strong Buy on potential upside from a resolution of 0.20 its 2-year-long problem in Algeria. Our target price of EGP3.9/share, a 125% - upside (USD3.2/GDS, a 72% upside) is based on a probability-weighted scenario analysis given different valuation points for Djezzy. We calculate that each 0.5x Mobinil's market price (EGP/share) change in Djezzy's EV/EBITDA equates to c.USD0.50/ORTE GDS. Source: CI Capital Research Orascom Telecom Media & Technology Holding OTH GDS (PRE-DEMERGER) 1-YR PERFORMANCE Volume ORTE EGX 30 - rebased New to the market, OTMT will likely exhibit some trading volatility along with some USD mn GDS liquidity risk for GDS holders until its GDS program is finalized. We believe 8.0 12 7.0 Mobinil's [EMOB] market price will be OTMT's main driver for the time being until 10 6.0 more visibility is provided on the new company's strategy (e.g. will OTMT seek 8 other GSM licenses?). While we see potential in OTMT's non-GSM operations, 5.0 Mobinil's recent price weakness would likely mar OTMT's stock performance 4.0 6 3.0 4 through its first few days of trading. Later in 2012, we expect the stock to be 2.0 supported by OTMT's put option to sell its stake in Mobinil to France Telecom 2 1.0 starting September 15, 2012 for a two-month period at more than 2.5x its recent 0.0 - price. We initiate coverage on OTMT with a Hold recommendation based on a 12- Jan- Mar- Jun- Aug- Oct- Jan- Mar- Jun- Aug- Oct- Dec- month time horizon over which our target price is EGP1.6/share, a 29% upside 10 10 10 10 10 11 11 11 11 11 11 (USD1.3/GDS, a 2% downside). We note, nonetheless, that over the very short term, there could be some sell-off (c.-7%) to EGP1.17/share, given Mobinil's stock Source: Bloomberg weakness over the past two months (-14%) and potential oversupply of shares in the market. We calculate that each EGP10 change in Mobinil's stock price equates to USD0.06/OTMT GDS. Amr Hussein Elalfy, CFA +(202) 333 1 8349 [email protected] Yehia El-Sherbiny 1 Those not qualifying as eligible GDS holders will have their underlying OTMT ordinary +(202) 333 1 8368 shares sold and proceeds distributed to them. [email protected] COMPANY NOTE 1 Please Read Last Page For Contact Details and Important Disclaimer EGYPT | TELECOMS January 22, 2012 Table of Contents Orascom Telecom Holding (OTH) ................................................................... 3 Valuation and Recommendation.................................................. 4 Scenario analysis ................................................................................................... 4 VimpelCom close to reaching an agreement on Djezzy ........................................... 5 Sum-of-the-parts valuation .................................................................................... 5 Investment Rationale............................................................................................. 6 Risks to our recommendation ................................................................................ 6 What’s in the market price? ......................................................... 7 Four different views with implied valuation ........................................................... 7 Will VimpelCom consider buying out ORTE's minorities? ........................................ 9 Preview & change of estimates .................................................. 10 4Q11 preview ...................................................................................................... 10 Change in estimates ............................................................................................ 10 Financial forecasts .................................................................... 12 Orascom Telecom Media & Technology Holding (OTMT) ........................... 16 Valuation and Recommendation................................................ 17 Sum-of-the-parts valuation .................................................................................. 17 Investment Rationale........................................................................................... 18 Risks to our recommendation .............................................................................. 18 The Demerger ........................................................................... 19 Procedures .......................................................................................................... 19 Corporate structure ............................................................................................. 19 OTMT's share buyback .............................................................. 21 OTMT's Mobinil put option........................................................ 22 COMPANY NOTE 2 Please Read Last Page For Contact Details and Important Disclaimer EGYPT | TELECOMS January 22, 2012 Orascom Telecom Holding (OTH) STRONG BUY (UPGRADED) LTFV: EGP4.8 | USD4.0 It's all about Algeria…for now TP: EGP3.9 | USD3.2 In this note, we update our forecasts and valuation for ORTE’ shares (post- COMPANY SYNOPSIS demerger). We believe recent negotiations between VimpelCom and the Orascom Telecom Holding (OTH) is a leading regional Algerian government over Djezzy, coinciding with the ORTE-OTMT mobile operators and among the largest in the Middle East and Africa. ORTE’s GSM networks cover 10 main countries demerger, would act as a catalyst for ORTE's ordinary shares once they with a total population of around 490mn. OTH operates GSM start trading on the EGX on Sunday, Jan. 22, 2012. Post-demerger, we used operations in Egypt, Pakistan, Algeria, and Bangladesh. In December 2005, OTH had acquired 19.3% of Hutchison four different probability-weighted scenarios for the final outcome of Telecom International Limited (HTIL) for USD1.3bn. After VimpelCom's negotiations with the Algerian government. Our weighted receiving USD793mn in special dividends from HTIL's sale of Hutch Essar, OTH sold its entire stake in HTIL for a total scenario-based valuation is EGP3.9/share (USD3.2/GDS), which we set as value of USD1.3 bn. Historically, OTH had restructured its our target price. Thus, we upgrade ORTE from Buy to Strong Buy on operation with a wave of divestiture, selling its stakes in the Jordanian mobile operator, Fastlink and nine GSM mobile potential upside from a resolution of its 2-year-long problem in Algeria. operators in Africa, in addition to Loteny (Ivory Coast), Oasis Telecom (DRC), and Libertis Telecom (Congo Brazzaville). Will a Djezzy sale entice VimpelCom to buy out ORTE minorities? Resolving In December 2007, OTH sold its GSM operator in Iraq to Zain for USD1.2bn and in 4Q10 OTH sold its stake in Djezzy’s dispute remains the catalyst for ORTE’s share performance. Indeed, the Tunisiana (Tunisia) for USD1.2bn. Early 2008, OTH has GDS has jumped 16% since Jan. 6, 2012, on the back of news that negotiations been granted the first 25-year commercial license to provide are currently taking place between VimpelCom and the Algerian government to mobile services in the North Korea, with an exclusivity period of four years. In partnership with Canada-based Globalive, sell 51% of Djezzy to the latter, albeit with no price or timeline given. This is in line OTH won an AWS spectrum in Canada which started with our most likely scenario dated Nov. 2, 2010 where we suggested
Load more

Recommended publications
  • Claimant's Memorial on Merits and Damages
    Public Version INTERNATIONAL CENTRE FOR ICSID Case No. ARB/16/16 SETTLEMENT OF INVESTMENT DISPUTES BETWEEN GLOBAL TELECOM HOLDING S.A.E. Claimant and GOVERNMENT OF CANADA Respondent CLAIMANT’S MEMORIAL ON THE MERITS AND DAMAGES 29 September 2017 GIBSON, DUNN & CRUTCHER LLP Telephone House 2-4 Temple Avenue London EC4Y 0HB United Kingdom GIBSON, DUNN & CRUTCHER LLP 200 Park Avenue New York, NY 10166 United States of America Public Version TABLE OF CONTENTS I. Introduction ............................................................................................................................ 1 II. Executive Summary ............................................................................................................... 3 III. Canada’s Wireless Telecommunications Market And Framework For The 2008 AWS Auction................................................................................................................................. 17 A. Overview Of Canada’s Wireless Telecommunications Market Leading Up To The 2008 AWS Auction.............................................................................................. 17 1. Introduction to Wireless Telecommunications .................................................. 17 2. Canada’s Wireless Telecommunications Market At The Time Of The 2008 AWS Auction ............................................................................................ 20 B. The 2008 AWS Auction Framework And Its Key Conditions ................................... 23 1. The Terms Of The AWS Auction Consultation
    [Show full text]
  • Download PDF Dossier
    Halberd Bastion Pty Ltd ABN: 88 612 565 965 58 Latrobe Terrace, Brisbane Queensland, Australia, 4064 [email protected] Research Dossier: VEON (VimpelCom) Headquarters Netherlands Company Name VEON Ltd. Ownership Type Publicly Traded Company Ownership/Controlling Entities Telenor Group Website https://veon.com/ Company Overview VEON, previously known as VimpelCom, is an international communications and technology company driven by a vision to unlock new opportunities for our customers as they navigate the digital world. Present in some of the world's most dynamic markets, VEON provides more than 235 million customers with voice, fixed broadband, data and internet services. VEON offers services to customers in 13 markets including Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia, and Laos. VEON operates under the “Beeline”, “Kyivstar”, “WIND 3”, “Jazz”, “banglalink”, and “Djezzy” brands. VEON is headquartered in Amsterdam, the Netherlands, and is traded on the NASDAQ Global Select Market and Euronext Amsterdam under the symbol "VEON". Groups Under Direction The company maintains a significant controlling stake in 1 group companies globally. Group companies are those maintaining a parent relationship to individual subsidiaries and/or mobile network operators. Global Telecom Holding Headquarters: Netherlands Type: Publicly Traded Company, Subsidiary Subsidiaries The company has 8 subsidiaries operating mobile networks. Beeline Armenia Country: Armenia 3G Bands:
    [Show full text]
  • “HR Operations and Non Compliance of Labour Law in Banglalink”
    InternshIp report on “HR operatIons and non ComplIanCe of labour law In banglalInk” submItted to kulsum popy leCturer, BRAC busIness School BRAC unIversIty submItted by raha tasmIm Id- 09104019 dept: BBA mobIle no- 0193-99-00-008 e-maIl: [email protected] date of submIssIon: may 20th, 2013 Letter of Transmittal 15th May’ 2013 To Ms. Kulsum Popy Lecturer BRAC Business School BRAC University 66, Mohakhali, Dhaka Subject: Submission of Internship Report on “HR Operations and Non Compliance of Labour Law in Banglalink” Dear Madam, With due respect, I am submitting my Internship report on the topic titled “HR Operations and Non Compliance of Lalobur Law in Banglalink” as a partial fulfillment of my BBA Program. It is my pleasure to inform you that I have been serving as an Intern in Banglalink under HR Operations from February 11, 2013 to May 10 2013. It was an excellent opportunity for me to complete my internship in Banglalink. I would like to thank you for giving me the opportunity to work on this assigned topic to enhance my knowledge in the practical field of Human Resource. This report explores the operational activities done by Banglalink HR and the level of compliance of HR policy and practices followed by Banglalink as per labour law. The Internship report has been prepared based on the practical experience, discussion and interview which have been carried out among the selected employees of HR Operations team of Banglalink. I hope you will find it worthy. Therefore, I sincerely hope that you will appreciate my effort. Sincerely yours, Raha Tasmim ID: 091014109 Page 1 of 43 Acknowledgement All praise to Allah, the almighty and the merciful.
    [Show full text]
  • Middle East Capabilities
    A Summary of Skadden’s Middle East Capabilities 1,700 attorneys 22 offices 50+practices BeijingBeijing / Boston/ Boston / Brussels / Brussels ChicagoChicago / Frankfurt/ Frankfurt HongHong Kong Kong / Houston / Houston LondonLondon / Los/ Los Angeles Angeles MoscowMoscow / Munich/ Munich NewNew York York / Palo / Palo Alto Alto ParisParis / /São São Paulo Paulo / Seoul / Seoul ShanghaiShanghai / Singapore / Singapore TokyoTokyo / /Toronto Toronto Washington,Washington, D.C. D.C. WilmingtonWilmington For more than 60 years, we have advised the business, financial and governmental communities around the world on their most complex, high-profile matters. Introduction Our attorneys provide clients doing business in the Middle East with seamless legal services, advising on corporate, dispute resolution, and investigation matters throughout the region. Skadden’s team of highly qualified lawyers, including native Arabic speakers, are We are known for our utmost committed to serving the needs of clients in the Middle East. For many decades, Skad- dedication to client service, den has been a global leader among law firms in mergers and acquisitions, corporate commitment to excellence, creativity and finance, disputes, investigations and regulatory matters in the region. We focus on resourcefulness in providing innovative complex multi-jurisdictional transactions and disputes, especially those in regulated advice and novel legal solutions. industries and growth markets. Through our integrated practices We operate as an integrated practice without office or jurisdictional boundaries — an and one-firm approach, we provide approach that is critical to the firm’s competitive advantage around the world. Our significant value and cost-efficiencies attorneys have extensive experience managing complex cross-border issues and the by bringing together the exceptional demands of multiple legal and regulatory regimes.
    [Show full text]
  • Telenor East Holding II AS V. Altimo &
    Neutral Citation Number: [2011] EWHC 735 (Comm) Case No: 2011 Folio 139 IN THE HIGH COURT OF JUSTICE QUEEN'S BENCH DIVISION COMMERCIAL COURT Royal Courts of Justice Strand, London, WC2A 2LL Date: 1st March 2011 Before : MRS JUSTICE GLOSTER, DBE - - - - - - - - - - - - - - - - - - - - - Between : Telenor East Holding II AS Applicant - and - (1 Altimo Holdings & Investments Ltd Respondents (2 Altimo Cooperatief UA (3 VimpelCom Ltd - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Joe Smouha Esq, QC, Vernon Flynn Esq, QC, Paul McGrath Esq and James Willan Esq (instructed by Orrick, Herrington & Sutcliffe (Europe) LLP) for the Applicant Huw Davies Esq, QC, Stephen Houseman Esq and Anton Dudnikov Esq (instructed by Skadden, Arps, Slate, Meagher & Flom LLP) for the First & Second Respondents Mark Howard Esq, QC and Oliver Jones Esq (instructed by Akin Gump LLP) for the Third Respondents Hearing dates: 25th February 2011 - - - - - - - - - - - - - - - - - - - - - Judgment Mrs Justice Gloster, DBE: 1. This is an application for an interim injunction pursuant to section 44 of the Arbitration Act 1996 which is made by the claimant, Telenor East Holdings II AS (“Telenor”), for an injunction restraining the third respondent, VimpelCom Limited (“VimpelCom”), and the first and second respondents, Altimo Holdings & Investments Limited ad Altimo Cooperatief UA, the latter as a shareholder in VimpelCom, from taking any action to convene, or proceed with, or vote at, a Special General Meeting of VimpelCom’s shareholders
    [Show full text]
  • Operational Performance 5
    GIVING THE WORLD A VOICE ORASCOM TELECOM HOLDING Full Year 2010 Orascom Telecom Holding YE – 2009 Page | 1 GIVING THE WORLD A VOICE CONTENT Highlights 3 CEO’s Comment 4 Operational Performance 5 Main Financial Events 9 Financial Review 14 Financial Statements 20 Operational Overview 25 Orascom Telecom Holding YE – 2009 Page | 2 GIVING THE WORLD A VOICE Orascom Telecom Holding Full Year 2010 Results Cairo, April 18th, 2011: Orascom Telecom Holding (OTH) (Ticker: ORTE.CA, ORTEq.L, ORAT EY, OTLD LI), announces its year end 2010 consolidated results. Highlights • On 4 January 2011, OTH sold its entire shareholding in Orascom Tunisia Holding and Carthage Consortium through which OTH owned 50% of Orascom Telecom Tunisia (“OTT”). As a result the proportionate consolidation of OTT during Q4 is no longer applicable under IFRS as it renders the entity an investment held for sale, and consequently a discontinued operation under IFRS rules. Figures for 2009 and 9M 2010 have been restated to reflect the accounting treatment of OTT. • Total subscribers exceeded 101 million, an increase of 16% over the same period last year. • Net Income before minority interest showed a sharp increase of 106% compared to the same period last year, reaching US$ 781 million1 for the period ending December 31st, 2010, mainly due to the gain recognized on the Mobinil transaction by comparing the carrying amount of the investments in Mobinil and ECMS to the relevant fair value, taking into consideration the net proceeds from the transaction for the global settlement fee amounting to US$300 million. • Revenues reached US$ 3,825 million1, increasing by 2% over the previous year as a result of strong growth in all GSM operations, with the exception of Algeria.
    [Show full text]
  • Operational Performance
    GIVING THE WORLD A VOICE ORASCOM TELECOM HOLDING First Quarter 2012 Orascom Telecom Holding YE – 2009 P a g e | 1 GIVING THE WORLD A VOICE CONTENT Highlights 3 CEO‟s Comment 4 Performance Review 5 Financial Statements 12 Main Financial Events 15 Operational Overview 17 Orascom Telecom Holding YE – 2009 P a g e | 2 GIVING THE WORLD A VOICE Orascom Telecom Holding First Quarter 2012 Results Cairo, May 14th, 2012: Orascom Telecom Holding (OTH) (Ticker: ORTE.CA, ORTEq.L, ORAT EY, OTLD LI), announces its first quarter 2012 consolidated results demonstrating a 15% YoY subscriber growth, a 1% YoY revenue growth and a 5% YoY increase in EBITDA. Highlights Total subscribers surpassed 82 million, an increase of 15% over the same period last year, after the exclusion of Alfa, Mobinil, koryolink and Powercom Ltd. subscribers for comparative purposes. Revenues reached US$ 899 million1, showing an organic* growth of 10% compared to 1Q 2011, as a result of strong organic GSM revenue growth of 10%. EBITDA reached US$ 433 million1, showing an organic growth of 10% compared to the same period last year, mainly driven by operational excellence and capital efficiency measures across the board, resulting in organic GSM EBITDA growth of 11%. Group EBITDA margin stood at 48.2%, an improvement of 1.7 p.p. compared to the same period last year. EBITDA margins for the major subsidiaries were: Djezzy 59.9%, Mobilink 42.2%, and banglalink 34.0%. Net Income before minority interest for the quarter stood at US$ 120 million, while profit from continuing operations improved by 83% compared to the same period last year, as a result of profitable growth coupled with operational excellence and capital efficiency strategies implemented during the last year.
    [Show full text]
  • Global Telecom Holding
    Global Telecom Holding View: Negative Tuesday, 3 July 2018 Valuation: EGP3.05 (36%) Egypt / Telecom Services / News Comment Stock chart and data VEON’s Acquisition of GTHE’s Pakistan & Volume (mn), Right GTHE EGX 30 Index Bangladesh Assets Is Negative for Minorities 50% 160.0 40% 140.0 Global Telecom Holding’s (GTHE) parent company VEON (NASDAQ: 30% 120.0 20% VEON) announced early this morning two major transactions, one 10% 100.0 involving the sale of its 50% stake in Wind Tre to CK Hutchison 0% 80.0 Holdings and another involving an offer to acquire GTHE’s assets in -10% 60.0 -20% 40.0 Pakistan (Jazz and its associated operations) and Bangladesh -30% -40% 20.0 (Banglalink). What really concerns us here is the second transaction -50% 0.0 which is for a gross consideration of USD2.55bn (in our opinion the two subsidiaries’ enterprise value, including debt), some 30% below our estimated enterprise value (EV) of USD3.67bn. In such a case, we Last Price (EGP) 4.80 think GTHE’s minority shareholders will once again end up with the 52 Week Range (EGP) 4.07 - 7.78 6M-ADVT (EGPmn) 68.91 short end of the stick! Market Cap (EGPmn) 22,661 No. of Shares O/S (mn) / Free float 4,721.1 / 43.2% • What’s the proposed deal? VEON, which owns 57.7% of GTHE, is back again, expressing its interest in GTHE—albeit indirectly this Financial summary time around. After seeing its mandatory tender offer of 100% of FY ended Dec. 2015 2016 2017 USDmn GTHE fail twice in the past five years (in 2013 and 2018), VEON (previously known as VimpelCom) has come up with another Revenues 2,894.4 2,955.5 3,014.7 YoY growth (13.3%) 2.1% 2.0% strategic move to fully own GTHE’s key assets.
    [Show full text]
  • Special Purpose VEONHOLD 2020
    Special purpose Consolidated financial statements VEON Holdings B.V. (a wholly-owned subsidiary of VEON Ltd.) As of and for the year ended December 31, 2020 1 Report of Independent Registered Public Accounting Firm To the Board of Directors and Shareholders of VEON Ltd. Opinions on the Financial Statements and Internal Control over Financial Reporting We have audited the accompanying consolidated statements of financial position of VEON Ltd. and its subsidiaries (the “Company”) as of December 31, 2020 and 2019, and the related consolidated income statement, statements of comprehensive income, of changes in equity and of cash flows for each of the three years in the period ended December 31, 2020, including the related notes (collectively referred to as the “consolidated financial statements”). We also have audited the Company’s internal control over financial reporting as of December 31, 2020, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2020 and 2019, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2020 in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2020, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.
    [Show full text]
  • Dr. Neuhaus Telekommunikation Mobile Network Code
    Dr. Neuhaus Telekommunikation Mobile Network Code The Mobile Country Code (MCC) is the fixed country identification. The Mobile Network Code (MNC) defines a GSM‐, UMTS‐, or Tetra radio network provider. This numbers will be allocates June 2011 autonomus from each country. Only in the alliance of bothscodes (MCC + MNC) the mobile radio network can be identified. All informations without guarantee Country MCC MNC Provider Operator APN User Name Password Abkhazia (Georgia) 289 67 Aquafon Aquafon Abkhazia (Georgia) 289 88 A-Mobile A-Mobile Afghanistan 412 01 AWCC Afghan Afghanistan 412 20 Roshan Telecom Afghanistan 412 40 Areeba MTN Afghanistan 412 50 Etisalat Etisalat Albania 276 01 AMC Albanian Albania 276 02 Vodafone Vodafone Twa guest guest Albania 276 03 Eagle Mobile Albania 276 04 Plus Communication Algeria 603 01 Mobilis ATM Algeria 603 02 Djezzy Orascom Algeria 603 03 Nedjma Wataniya Andorra 213 03 Mobiland Servei Angola 631 02 UNITEL UNITEL Anguilla (United Kingdom) 365 10 Weblinks Limited Anguilla (United Kingdom) 365 840 Cable & Antigua and Barbuda 344 30 APUA Antigua Antigua and Barbuda 344 920 Lime Cable Antigua and Barbuda 338 50 Digicel Antigua Argentina 722 10 Movistar Telefonica internet.gprs.unifon.com. wap wap ar internet.unifon Dr. Neuhaus Telekommunikation Mobile Network Code The Mobile Country Code (MCC) is the fixed country identification. The Mobile Network Code (MNC) defines a GSM‐, UMTS‐, or Tetra radio network provider. This numbers will be allocates June 2011 autonomus from each country. Only in the alliance of bothscodes (MCC + MNC) the mobile radio network can be identified. All informations without guarantee Country MCC MNC Provider Operator APN User Name Password Argentina 722 70 Movistar Telefonica internet.gprs.unifon.com.
    [Show full text]
  • Bot U10522 001.00.00.00 3
    ACE BOWNE OF TORONTO 01/30/2011 18:12 NO MARKS NEXT PCN: 002.00.00.00 -- Page is valid, no graphics BOT U10522 001.00.00.00 3 IMPORTANT NOTICE THIS OFFERING IS AVAILABLE ONLY TO INVESTORS WHO ARE EITHER (1) QIBS THAT ARE QPS (EACH AS DEFINED BELOW) OR (2) NON-U.S. PERSONS OR ADDRESSEES OUTSIDE OF THE U.S. IMPORTANT: You must read the following before continuing. The following applies to the prospectus supplement following this page (the “Prospectus Supplement”), and you are therefore advised to read this carefully before reading, accessing or making any other use of the Prospectus Supplement. In accessing the Prospectus Supplement, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from us as a result of such access. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE ISSUER HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”) AND THE SECURITIES HAVE NOT BEEN, AND WILL NOT, BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE U.S. OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE U.S. OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS AND WHICH DOES NOT REQUIRE THE ISSUER TO REGISTER UNDER THE INVESTMENT COMPANY ACT.
    [Show full text]
  • History Sheba Telecom(PVT Ltd)-After Talking Lots- Finally Was Granted License in 1989[6] to Operate in the Rural Areas of 199 Upazilas
    Banglalink (Bengali: বাংলািলংক), is the second largest cellular service provider inBangladesh after Grameenphone. As of April 2012, Banglalink has a subscriber base of 25 million.[3] It is a wholly owned subsidiary of Orascom Telecom. Banglalink had 1.03 million connections until December, 2005. The number of Banglalink users increased by 257 per cent[4] and stood at 3.64 million at the end of 2006, making it the fastest growing operator in the world of that year. In August, 2006, Banglalink became the first company to provide free incoming calls from BTTB for both postpaid and prepaid connections. On August 20, 2008, Banglalink got past the landmark of 10 million subscriber base.[5] History Sheba Telecom(PVT Ltd)-after talking lots- finally was granted license in 1989[6] to operate in the rural areas of 199 upazilas. Later it obtained GSM license in 1996 to extend its business to cellular mobile, radio telephone services. It launched operation in the last quarter of 1997 as a Bangladesh-Malaysia joint venture. Tigers' Den (banglalink's headquarters) atGulshan. In July, 2004, it was reported that Egypt based Orascom Telecom is set to purchase the Malaysian stakes in Sheba Telecom through a hush-hush deal, as Sheba had failed to tap the business potentials in Bangladesh mainly due to a chronic feud between its Malaysian and Bangladeshi partners. An agreement was reached with Orascom worth US$25 million was finalized in secret. The pact has been kept secret for legal reasons, considering financial fallout and because of the feud. The main reason for the undercover dealing was the joint venture agreement between the Bangladeshi and the Malaysian partners, which dictates that if any party sells its Sheba shares, the other party will enjoy the first right to buy that.
    [Show full text]