Arab Finance: Orascom Telecom Media And Technology Holding (OTMT) clarified what was published on newspapers concerning alliance with Aramex to establish 5 logistics zones.

OTMT’s Executive Director said the company intends to establish 5 logistics zones, through this alliance, that will be distributed over 5 governorates, amounting to LE1 billion over 5 years.

Executive Director added the alliance will lead to establishing new company, in which OTMT will own 51%, while the remaining 49% will be for Aramex.

It is worth mentioning, the company sent a release to EGX to clarify the pervious mentioning is still under study.

Source: EGX & Arab Finance editor