Support The Moscow Times!

Sawiris Hopes for Board Seat

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.” 


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.