Egypt's Orascom Telecom appoints new CEO

CAIRO, EGYPT: Egypt's Orascom Telecom appointed the former head of its Bangladeshi business, Ahmed Abou Doma, as chief executive, the company said on Monday.

Abou Doma, who replaces Khaled Bichara as CEO, was previously the head of marketing at OT's Egyptian mobile venture Mobinil. 

Earlier, after its annual general meeting, company told that they will not pay a cash dividend for 2009 as it retains its funds to fight a tax bill in Algeria

Orascom raised $800 million via a rights issue finalized in March to ensure adequate liquidity as it challenges the $597 million tax bill plus penalties in Algerian courts.