- CAIRO: Orascom Telecom, the Egyptian company bought in March by Russia’s Vimpelcom, reported a net loss of $58.5 million for the second-quarter, narrowing from a year earlier.
Orascom was expected to report net income of $64 million, according to the average analyst forecast in Reuters poll.
The company reported a quarterly loss of $66 million a year earlier that was caused mainly by foreign exchange losses.