UPDATE 2-Orascom says no France Telecom reply to talks offer

* France Telecom yet to reply to OT talks offer

* France Telecom says new offer worth $1.5 billion

* Orascom's hopes of acquiring Meditel stake "dimmer"

(Adds price of FT's new offer, details)

By Alastair Sharp

CAIRO, May 20 (Reuters) - France Telecom (FT) (FTE.PA: Quote, Profile, Research) has not replied to Orascom Telecom's (ORTE.CA: Quote, Profile, Research) offer of direct talks to resolve their dispute over their stakes in Egyptian mobile operator Mobinil, the chairman of Orascom told Reuters on Wednesday. Naguib Sawiris also said Egypt's market regulator should release details of the latest tender offer from FT for the minority interests in Mobinil (EMOB.CA: Quote, Profile, Research) and let Orascom shares resume trading on the Egyptian stock exchange.

The two firms own a joint holding company which owns a 51 percent stake in Mobinil, while Orascom also holds a 20 percent direct stake in the firm, which is Egypt's largest mobile operator by subscribers.

France Telecom's finance chief Gervais Pellissier later told a Reuters summit that the company had offered around 1.5 billion euros ($2.05 billion) to buy the remaining stake in Mobinil, including a 20 percent direct stake held by Orascom.