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OIH denies owning stake in ItaliaOnline

OIH denies owning stake in ItaliaOnline

Arab FinanceOrascom Investment Holding (OIH) has denied owning a direct or an indirect stake in Italy’s leading internet services company ItaliaOnline, according to a statement filed to the Egyptian Exchange (EGX) on July 6th.

The company has also mentioned that it has no relation in regards to the recently published news on Naguib Sawiris’s Orascom Holding’s interest in selling a stake in ItaliaOnline.

On July 5th, unnamed informed sources told Bloomberg that Orascom Holding mulls over the sale of a minority share or a controlling stake in the Italian company.

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

It mainly operates in global systems for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.

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