Sawiris looks to Europe for telecoms growth
Naguib Sawiris, the chairman of Orascom Telecom, has established an emerging market operation that is one of the world’s strongest-performing companies. Now he is turning his attention to Europe. He tells Chloe Hayward why his business is one of the best.
|"I am driven by my stock price. Nothing else but my stock price. All my decisions are based on that and that alone. I go where I smell money – money means my stock price will rise and so I go there"
Naguib Sawiris, Orascom Telecom
ORASCOM TELECOM HAS something that investors want to be a part of. Once you have spoken to Naguib Sawiris, the company’s CEO and chairman, it becomes clear what that is. "I am driven by my stock price. Nothing else but my stock price. All my decisions are based on that and that alone," he says in an interview with Euromoney. "I go where I smell money – money means my stock price will rise and so I go there." Orascom Telecom’s stock market performance suggests that Sawiris’s strategy is working. Since 2002 the share price has climbed from less than one Egyptian pound to the staggering E£78 that it is today. This statistic makes Orascom one of the world’s best-performing companies, and Sawiris, a 57% shareholder of Orascom, one of the world’s richest men, with a $10 billion fortune.