Egypt's Orascom to maintain Hutchison Telecom stake

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MACAU, Nov 13 (Reuters) Egypt's Orascom Telecom Holdings, which recently trimmed its stake in Hong Kong's Hutchison Telecommunications International Ltd (HTIL) to 14.3 percent from 16.3 percent, said on Tuesday it aims to maintain its holding at current levels.

''We will not sell any more stake,'' Chairman and Chief Executive Naguib Sawiris told reporters on the sidelines of an industry event.

''We believe in the long-term development in the markets that HTIL is serving right now.

He also said the company was in talks with HTIL parent Hutchison Whampoa Ltd's third-generation mobile unit in Italy, 3 Italia, to share network towers.

He added that the company was considering a bid for Egypt's second fixed-line telecoms licence, and was also eyeing a state-owned carrier in Lebanon.


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