Orascom Telecom Media & Technology (OTMT) posted its stand-alone financial statements ended June 7, 2012, which will be approved by the company's OGM on June 28. The company's board has proposed a DPS of EGP1.05 or EGP5.508bn for distribution – almost the total net proceeds from the sale of 29% of Mobinil. This implies a super dividend yield of 89%, CI Capital stated.

OTMT's CEO, Khaled Bichara, resigned on June 11, 2012 to pursue new private business opportunities, while remaining a member of the board. He will be replaced by Mr. Karim Bichara, subject to shareholder approval at the upcoming OGM on June 28, 2012.

CI Capital stated; “ Going forward, we expect today's announcement to reflect positively on the stock, which closed yesterday at EGP1.18. Indeed, the stock was up midday as high as EGP1.29. While OTMT is yet to reveal its strategy, we believe it will continue to target telecom and internet. The remaining assets (ex-cash) suggest deep undervaluation (in excess of 35%). Our recommendation is still Strong Buy with a TP of EGP2.1/share”.