Egyptian mobile operator Orascom Telecom has changed its name to ‘Global Telecom Holding S.A.E’.

In a statement, the company, which is owned by Russia’s Vimpelcom, says the Egyptian Stock Exchange (‘EGX’) and the London Stock Exchange (‘LSE’) are set to amend the name of the company.

The ticker symbol on the trading screens are also planned to be changed to "GTHE.CA" on the EGX and "GLTD:LI" on the LSE with effect from September 23, 2013.

According to the statement, this gives effect to the decision of shareholders at an ‘Extraordinary General Assembly Meeting’ held on November 12, 2012.

All references to the previous company name will be substituted by the new name, says the firm in the statement.

Earlier this year, the firm formerly known as Orascom said its total subscribers increased 3% from a year earlier to about 85 million in Egypt.

“The company was obliged to change its name as part of the WIND Telecom S.p.A. and VimpelCom Ltd. merger, under which the company and its subsidiaries were required to cease the use of the "Orascom" name, designs and logos,” says the statement.

Ahmed Abou Doma, group chief executive officer of Global Telecom Holding S.A.E. commented: "Our new name and corporate identity are intended to provide a modern look and feel, and emphasise our specific strengths as an international telecom group.”

“The Global Telecom Holding S.A.E. new corporate identity allows our group to leverage on the goodwill, the strong growth and outstanding performance of our parent company VimpelCom Ltd. and will provide our organization with a solid platform to build upon in our upcoming endeavors and growth potential in the telecom sector."

Global Telecom also has operations in Zimbabwe, Algeria and the Central African Republic (CAR).