Reuters logo
Egypt's CIB accepts Orascom Telecom offer for its investment arm -source
December 17, 2015 / 10:25 AM / 2 years ago

Egypt's CIB accepts Orascom Telecom offer for its investment arm -source

CAIRO, Dec 17 (Reuters) - Egypt’s Commercial International Bank (CIB) has accepted an offer from Orascom Telecom to buy its investment banking arm CI Capital, a banking source said on Thursday.

CIB said on Thursday it had received an offer from OTMT, which is owned by billionaire Naguib Sawiris, to buy 100 percent of CI Capital at 1 billion Egyptian pounds ($127.7 million). ($1 = 7.8300 Egyptian pounds) (Reporting by Ehab Farouk; writing by Lin Noueihed; editing by David Clarke)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below