The non-executive and independent members of Orascom Investment Holding’s (OIH) board have approved in principle the acquisition of Misr for Entertainment Investments.

Orascom Investment Holding’s (OIH) consolidated net profits attributable to the parent company rose by 121.29% year-on-year (YoY) during the first half (H1) of 2024 to EGP 1.180 billion from EGP 533.534 million.

Orascom Investment Holding (OIH) reported a 70.44% year-on-year (YoY) drop in consolidated net profits attributable to the parent company for 2023, recording EGP 339.406 million in 2023 from EGP 1.148 billion in 2022.

Orascom Investment Holding (OIH) has sold its subsidiaries owning the real estate units in Patio Victor Malzoni building in S?o Paulo, Brazil.

OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector.

The announcement came as a response to the recently published news in the media on OIH’s plan to invest $1.2 billion in Uzbekistan.

BluEV is an e-mobility platform that operates a smart network of battery replacement stations to enable light transportation users to shift to electric vehicle technology, allowing for an advanced and sustainable infrastructure that feeds two- and three-wheeled vehicles with clean energy.