France Telecom-Orange (“FT”) and Orascom Telecom Media and Technology Holding S.A.E. (“OTMT”) announce that they have agreed on the final terms governing the partial sale of OTMT’s direct and indirect stakes in the Egyptian Company for Mobile Services (“ECMS”) and the parties’ continued partnership in the governance and ownership of ECMS. As of the date hereof, MobiNil for Telecommunications S.A.E. (“MobiNil”) owns 51.03% of the shares and voting rights in ECMS. FT holds 71.25% of MobiNil’s shares while OTMT holds the remaining 28.75%. In addition, OTMT directly owns 20% of the shares and voting rights in ECMS. The remaining share capital of ECMS amounting to 29% is traded with the EGX.

Reed Smith LLP today announced the arrival of Mary Thornton Payne as a partner in its Financial Industry Group (FIG) in the firm’s Washington, D.C. office.

Global law firm White & Case LLP has advised ITOCHU Corporation, a leading trading house based in Japan, on its acquisition of shares in Metsä Fibre Oy, a Finnish pulp producer.