The fate of "our" Investors gave rise to much speculation. The Arabic channel Al Jazeera had reported that Sawiris and his family had left Egypt. But the opposite is the case. According to Basler Zeitung Sawiris has canceled a short vacation in the Caribbean and is now observed by El Gouna from the events in his country.
And what will the situation develop in Egypt? This is a "one million dollar question," says Sawiris. He can not answer the question. The development in Egypt is one. But what impact the civil disturbances in Sawiris' resorts? After all, flow 80 percent of revenues Orascom from Egypt itself provides an answer in the BAZ financial analyst Patrick Hasenböhler by Bank Sarasin:
Version 1: In the best case, normalizing the situation in Egypt within weeks or few months. Then the business could continue unhindered with the tourists. Orascom would have to identify only slightly lower earnings.
Option 2: At worst it could lead to nationalization and / or expulsion from the rich come out of Egypt. Then came Sawiris' transactions to a virtual standstill.
Sawiris does not believe such a development. In the MC, he says that Egypt is now dependent to a large extent on the economic performance of the private sector. Those who destroy the private sector, destroy the state to use. Because no group had an interest. In addition, Orascom Development had to withstand sufficient financial resources to a losing streak of at least one and a half years. As long would also be no concessions made in other countries on projects.
the way, yesterday was Sawiris' company cut off "Andermatt Swiss Alps" of mail traffic. The mail server is located in Egypt, where the government has capped the Internet. Specialists are now working to load the data on a Swiss server.
contribution to BAZ online ...
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