Shareholders in Egyptian group Orascom Telecom (OT) approved on Thursday a split of the company and a capital increase.
OT would boost its issued capital to 14 billion Egyptian pounds (US$2.35 billion) up from 7.5 billion to fund its debt as well as divide the company into two.
Both firms will be listed on the Egyptian stock exchange.
(US$1=5.971 Egyptian Pound)
