Orange-owner France Telecom said today it will pay Orascom Telecom a global settlement fee of US$300 million as part of the two companies’ agreement on Egyptian mobile operator Mobinil (ECMS), reports Dow Jones Newswires. Earlier this month, France Telecom and Orascom said they had settled their disagreement over Mobinil, ending a three-year dispute. The US$300 million settlement fee will be payable when an amended and restated shareholders agreement comes into force, the groups said.
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