Orange (NYSE: FTE) has officially launched as a brand in Egypt Tuesday, becoming the French giant's largest market in terms of customers, with more than 33 million. Till date, Orange had operated in Egypt under the Mobinil brand. In the presence of Stéphane Richard – CEO and Chief Executive of Orange; and Yves Gauthier - CEO of Mobinil, the conference took place in Cairo Tuesday to signal the official launch of the French parent company's services and offers in Egypt. Orange has stated that the rebranding is more than just a marketing exercise and that it will bring benefits in terms of device procurement and roaming agreements. Orange acquired 94 percent of Mobinil in 2012. In 2015, Orange tightened its control of Egyptian mobile phone operator Mobinil, with a € 209.6 million purchase of an additional 5 percent stake to become 98.92 percent, as it continues to push into Africa. The French multinational telecommunications giant, had acquired its majority shareholding in Mobinil, one of the North African country's largest mobile phone operators, by purchasing a stake used to be owned by Egyptian tycoon Naguib Sawiris' Orascom Telecom Media and Technology (OTMT). The name change is part of a slow transition to Orange, which started last year when the global telecom giant acquired Mobinil. The first rebranding stage covered stores, billboards and now headquarters with TV and social media to follow. Egypt contributes 4 percent of Orange's worldwide revenues, which reached €40 billion. Backed by a presence in 28 countries worldwide including 19 in the Middle East and African markets, Orange has 260 customers worldwide, 110 million of them in the Middle East region, and 33 million in Egypt.
