Vodafone drops pursuit of Lebanon mobile operations

• Vodafone (VOD -2.8%) has pulled out of a six-company competition to take over Lebanon's two mobile operators.
• The government's two mobile firms, Touch and Alfa, were being run by Zain and Orascom Telecom Media and Technology, though the two companies' management contracts expired two years ago.
• Vodafone's pulling out leaves five others competing: Zain, Orange (ORAN -0.2%), Maxis, Turkcell (TKC -1.9%) and a unit of Deutsche Telekom (OTCQX:DTEGY), as OTMT didn't submit a bid application on time.