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Egyptian telecoms magnate Sawiris seeks slice of Telecoms Italia

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Egyptian telecoms magnate Sawiris seeks slice of Telecoms Italia

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Egyptian telecoms magnate Naguib Sawiris has stepped up activity in the European telecoms market. He has expressed interest in Telecom Italia and is ready to invest up to 3 billion euros to prove it. It sounds good, the Italian telecoms giant needs money. Its net profit in the 3rd quarter dropped to 681 million euros 13 per cent less than last year.