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

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

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