ECONOMY

Naguib Sawiris…

Naguib Sawiris, the Egyptian billionaire who owns Wind Hellas Telecommunications, said he’s ‘not ruling out’ a second debt restructuring at Greece’s third-largest mobile phone operator, as austerity measures weigh on consumer spending. Competition in the Greek mobile market has been fierce, said Sawiris, adding that ‘this price war will be catastrophic for everyone.’ ‘We believe there is a genuine chance that prices will start stabilizing, if not even go back to a higher level, so we can all return to profitability,’ he said.