Sawiris Hopes for Board Seat

By The Moscow Times

Jan. 18, 2011

SHARM EL-SHEIKH, Egypt — Egyptian tycoon Naguib Sawiris said Tuesday that he believes he will eventually get seats on VimpelCom’s board if the company’s proposed $6 billion-plus purchase of his Cairo-based Orascom Telecom and Italian Wind goes ahead.

Sawiris gave up the right to seats on VimpelCom’s board to help secure the deal, but he said, “We believe that the company in the long term will have to have real representation.”

Asked what he and his holding company Wind Telecom would do to prevent Telenor from blocking the deal, Sawiris said: “I will do nothing. I will only contact them to understand their point of view and also contact Alfa to see their point of view.”

(Reuters)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue