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An Iraqi industry regulator has stripped France's Orange SA of its stake in wireless operator Korek and handed it to a group of local investors, according to an official document seen by Bloomberg.An administrative order from Iraq's Communications and Media Commission transferred the 44 percent stake in Korek owned jointly by Orange and Kuwaiti logistics company Agility Public Warehousing Co. to three investors including Korek's managing director, Sirwan Barzani. Orange and Agility bought the Korek stake in 2011 and invested $810 million in the business.Barzani now holds 75 percent of Korek, with the two other investors holding the rest, according to the regulator's order.
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