Operator group Orascom Telecom reported a US$83million net loss for the final quarter of 2011 on the back of a two percent drop in revenue compared to the same quarter in 2010 (US$896 million). The net loss was lower than the US$170 million reported a year ago. The company attributed the revenue drop to the liquidation of its handset business and unfavourable currency movements. The company hit 78 million subscribers, a 13 percent year-on-year increase. Orascom Telecom separated from Orascom Telecom Media & Technology in January and holds assets in Algeria, Bangladesh and Pakistan.