(RTTNews) – Orascom Telecom Holding S.A.E. (OTLD.L: News ) said that it has filed a grievance with the Grievance Committee of the Egyptian Financial Supervisory Authority against the decision accepting the tendering of the mandatory purchase offer submitted by Orange Participations, one of the affiliates of France Telecom, for the acquisition of 100% of the shares of the Egyptian Company for Mobile Services at a price of EGP 245 per share.

In its grievance, Orascom has requested the annulment of the Authority’s decision as it is not made in accordance with the law and contradicts the principles of equality and equal opportunity between the shareholders.

According to OTH, the conditions for the sale to FT and its affiliates of the shares owned by OTH in MobiNil, in accordance with the terms of the arbitration award and within the period specified in such award, have not been fulfilled.

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