Tweet
Naguib Sawiris patron d'Orascom et israel
BUSINESS tycoon and Orascom Telecom Holding (OTH) Chairman Naguib Sawiris was in the international spotlight last week. A report published by Israeli newspaper Maarev, translated by many local websites and privately-owned newspapers, claimed that Sawiris had paid bribes to Israeli Minister of Defence Ehud Barak and his wife Nili Priel to help him get the approvals needed for OTH to increase its stake in Israeli operator Partners Communication (PC). OTH currently owns 10 per cent of PC, Israel's second largest mobile network operator.
As it turns out, Sawiris did not buy this stake directly but rather through his acquisition of a 23 per cent holding in the Hong Kong-based Hutchison Telecommunication International Limited (HTIL), which in turn owns 51 per cent in PC.
According to the Israeli telecommunication law, foreign companies can't own more than 10 per cent of local telecommunication companies unless they have the approval of Israel's security agency Shin Beth.
When Shin Beth refused Sawiris's offer, pressure from Barak followed, to give the go-ahead for the deal. Maarev concludes in its report that Barak's efforts definitely did not come without a price. From his side Barak admitted that he interfered to convince both Israeli Prime Minister Ehud Olmert and the Israeli head of intelligence to give Sawiris the approval. But according to a statement issued by Barak's office the favours were not done in return for any commissions or bribes.
Priel who runs a PR company was accused by the Israeli media of using her husband's position to create connections with Israel's business elite. A couple of days after Maarev' s story was published she closed her PR company down.
Sawiris's office did not issue any comment, nor did the PR department at OTH, saying instead that Sawiris is out of town.
And as though this were insufficient, Sawiris also figured prominently in the news when MobiNil, Egypt's largest mobile telecommunications operator and 33.1 per cent owned by OTH, announced that Sawiris will no longer be chairman of the board. He is to be replaced by Alex Shalabi, the company's CEO.
Analysts believe that this move was made to calm investors, who had been shaken by reports on the Egyptian businessman being willing to invest more in Israel.
Al Ahram Weekly 2008
As it turns out, Sawiris did not buy this stake directly but rather through his acquisition of a 23 per cent holding in the Hong Kong-based Hutchison Telecommunication International Limited (HTIL), which in turn owns 51 per cent in PC.
According to the Israeli telecommunication law, foreign companies can't own more than 10 per cent of local telecommunication companies unless they have the approval of Israel's security agency Shin Beth.
When Shin Beth refused Sawiris's offer, pressure from Barak followed, to give the go-ahead for the deal. Maarev concludes in its report that Barak's efforts definitely did not come without a price. From his side Barak admitted that he interfered to convince both Israeli Prime Minister Ehud Olmert and the Israeli head of intelligence to give Sawiris the approval. But according to a statement issued by Barak's office the favours were not done in return for any commissions or bribes.
Priel who runs a PR company was accused by the Israeli media of using her husband's position to create connections with Israel's business elite. A couple of days after Maarev' s story was published she closed her PR company down.
Sawiris's office did not issue any comment, nor did the PR department at OTH, saying instead that Sawiris is out of town.
And as though this were insufficient, Sawiris also figured prominently in the news when MobiNil, Egypt's largest mobile telecommunications operator and 33.1 per cent owned by OTH, announced that Sawiris will no longer be chairman of the board. He is to be replaced by Alex Shalabi, the company's CEO.
Analysts believe that this move was made to calm investors, who had been shaken by reports on the Egyptian businessman being willing to invest more in Israel.
Al Ahram Weekly 2008
Commentaire