The eponymous Orascom conglomerate, which he helped found, is involved construction, telecoms and hotels.
Orascom is now controlled by Dutch-based VimpelCom, who signalled its interest in selling WIND Mobile earlier this year.
ENGADGET: Fongo makes a very public bid for control of Wind Mobile
Meanwhile, Orascom Telecom has nominated Khaled Bicharaha, its chief executive, to replace Sawiris as executive chairman, pending board approval.
FORBES: Egyptian Billionaire Naguib Sawiris Dumps Business For Politics
The sales of a mobile phone operator, Djezzy, owned by Egypt's Orascom, boomed.
There are of course construction (Orascom) and communications (Wataniya) companies which are regionally important, making investments in Asia and Africa.
Egyptian telecoms firm Orascom, which is a partner in Koryolink, estimates that more than 1 million North Koreans use mobile phones.
The Orascom family group has gone one better, creating a whole town on the Red Sea, complete with hospital, school and several luxury hotels.
Orascom Telecom operates networks in 11 countries, from Algeria to Pakistan to Zimbabwe, and Orascom Development owns and builds hotels, holiday villages and housing estates on three continents.
ECONOMIST: Wealthy Egyptian business families venture abroad
They got mad when Li sold a minority stake in Hutchison Telecom, the 67% shareholder in Hutchison Essar, to Egyptian telecom company Orascom (controlled by Egyptian billionaire Naguib Sawiris).
Launched in late 2009 with backing from Egyptian-based Orascom Telecom, WIND Mobile was the first of several new wireless entrants to attempt to jockey for position in Canada's wireless industry.
ENGADGET: Fongo makes a very public bid for control of Wind Mobile
The Sawiris family and Abraaj Capital, which together own 60 percent of Orascom, are also participating in the tender and have submitted all their OCI GDRs to exchange for OCI N.
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Canadian carrier Wind Mobile has faced no small amount of tumult in recent months, culminating in direct control by Orascom and talk of shopping the provider around to the highest bidder.
One month after merging his telecom holdings with Russian mobile phone services operator, Vimpelcom, Egyptian billionaire Naguib Sawiris has announced that he is giving up his role as the executive chairman of Orascom Telecom in order to pursue his political ambitions.
FORBES: Egyptian Billionaire Naguib Sawiris Dumps Business For Politics
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