Naguib Sawiris, CEO of Orascom Telecom, says the Egyptian company’s initial bid for a 32 percent stake in Moroccan operator Meditel has been trumped by two other interested parties, reports TeleGeography, citing Reuters. He added that his firm was not willing to raise its bid for the stake being offered for sale by Portugal Telecom, which has been valued at between EUR300 million to EUR400 million. Etisalat and at least one other major Middle Eastern telco are thought to be interested.