The ordinary general assembly of telecommunications company Orange Egypt approved the resignation of Atef Helmy as chairperson of the board of directors and appointed Bruno Mettling as the representative of MT Telecom. Orange had appointed Helmy, the former minister of communications and information technology, as chairperson of the company last year. Meanwhile, the general assembly approved the conclusion of a new financing agreement with MT Telecom Company, the main shareholder of the company. MT Telecom will obtain the necessary approval. Orange Egypt had announced net consolidated losses of EGP 2.55bn in 2016, down from a net profit of EGP 10.4m in 2015.

Source: Daily News Egypt July 10, 2017 12:00 UTC