'%20id='ico-down'%20stroke='%23000000'%20stroke-width='1.5'%3e%3cg%20transform='translate(1092.250000,%20254.750000)'%3e%3cpolyline%20id='Path-2-Copy-4'%20transform='translate(5.500000,%202.750000)%20scale(1,%20-1)%20rotate(-180.000000)%20translate(-5.500000,%20-2.750000)%20'%20points='0%200%205.5%205.5%2011%200'%3e%3c/polyline%3e%3c/g%3e%3c/g%3e%3c/g%3e%3c/svg%3e){kind=small}
Egypt’s Orascom Telecom denied on Thursday a report that it was negotiating the sale of a 51-percent stake to VimpelCom, a Russian-Norwegian company.
The Moscow newspaper Kommersant reported that VimpelCom Ltd was in talks with Orascom to buy a majority stake.
Orascom responded to the Egyptian stock exchange’s request for a clarification on the report with a statement: “The company is not a party to any discussions with VimpelCom.”
The Egyptian firm earlier on Thursday reported a second quarter loss of 41.4 million dollars, largely because of the dollar’s appreciation against Egypt’s pound.