Orascom Telecom has asked the Egyptian regulators to approve a hree-month programme for the company to buy back up to 65 million of its own shares.

Orascom Telecom has asked the Egyptian regulators to approve a three-month programme for the company to buy back up to 65 million of its own shares. These shares have a current market value of around $201 million and represent 7.2 per cent of the company’s issued shares. The company is asking to buy back either local shares or its London-listed GDRs, each of which is equivalent to five local shares.