Egypt-based Orascom Telecom Holdings has acquired an 11.3 per cent indirect stake in Pakistan-based cellular service provider Mobilink for $290 million through Pakistan-based Saif Telecom.

Egypt-based Orascom Telecom Holdings has acquired an 11.3 per cent indirect stake in Pakistan-based cellular service provider Mobilink for $290 million through Pakistan-based Saif Telecom.

Following the acquisition, Orascom owns 100 per cent of Mobilink. Orascom will reportedly finance the acquisition with the proceeds from its $750 million senior notes issuance which closed in February 2007.