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Orascom has ‘lost control’ of Koryolink
Orascom Telecom and Media Technology (OTMT) says it has effectively lost control of Cheo Technology, the North Korean joint venture cellular operator that uses the Koryolink brand-name and has around 3 million subscribers. The dramatic statement was contained in the company’s latest financial report, which also said that OTMT would no longer be treated as a…
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Koryolink said to have 3 million subscriptions
North Korean cellular operator Koryolink has 3 million subscriptions, according to a report from Reuters. The figure was provided by a Koryolink staffer to Reuters correspondent James Pearson, who was in Pyongyang last week to cover the 70th anniversary of the Workers’ Party of Korea. No more details were provided, which is run-of-the-mill for Koryolink. Orascom…
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Orascom’s no closer to getting its cash from North Korea
Egypt’s Orascom Telecom Media and Technology (OTMT) has reported no significant progress in talks with the North Korean government over two big issues it faces in the country. In its second quarter financial results, Orascom says it’s still trying to figure out how to get its cash out of the country and a possible merger of…
