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Orascom Telecom Invests in Egyptian ISP

Adding another wheel to the ISP's pursuit of regional growth plans, Egyptian conglomerate Orascom Telecom is to take a 51 percent stake in Link Egypt.

Link Egypt is an ISP and a developer and integrator of Internet solutions with operations in Egypt and Dubai, UAE. The company has delivered corporate Internet solutions to Citibank and Microsoft regional branches, as well as at leading local companies such as EgyptAir and Bank Misr.

"Link Egypt will maintain its current management team and structure," said Khaled Bichara, LINK Egypt's chairman & CEO. ""Link Egypt has a regional vision, and that is principally what made investing in this young and dynamic company so attractive to Orascom Telecom.

"We, too, share a vision that encompasses the Middle East and we see the Internet as a key part of the information and telecommunication revolutions which are shaping the world we will live in tomorrow," said Orascom Telecom chairman Naguib Sawiris.

There are around 40 ISPs active in Egypt today.