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Orascom Takes Equity Stake in MyScreen Mobile

orascom.gifMyScreen Mobile has announced that it has received a minority investment of $10 million from Orascom Telecom. The investment will give MyScreen Mobile exclusive access to Orascom’s 70 + million subscribers in the Middle East, Africa, South Asia and its affiliates’ (Wind Italy and Wind Greece) 18 million subscribers.

MyScreen Mobile is a service that pays users cash to receive ads on their mobile phones.

“With over 90 million handsets in the Orascom/Weather group of companies, we believe that MyScreen will play an important role in allowing us to pursue plans to include mobile advertising in our business model” said Naguib Sawiris, Chairman and CEO of Orascom.

Michael O’Connor, Orascom’s Investment & Business Development Officer, commented that “After extensive research and evaluating several different opportunities, we choose MyScreen as it is one of the most compelling opportunities we have seen in the past 10 years,”

See the full release here.


13.06.2008    Tags: ,
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