December 17, 2015 / 10:55 AM / 2 years ago

Egypt's CIB accepts Orascom Telecom offer for investment banking arm

CAIRO, Dec 17 (Reuters) - Commercial International Bank said on Thursday it had accepted a 1-billion-Egyptian-pound ($127.71 million) offer from Orascom Telecom to buy its investment banking arm CI Capital.

CIB, Egypt's largest listed company, made the announcement in a statement on the stock exchange website.

$1 = 7.8300 Egyptian pounds Reporting by Ehab Farouk; writing by Lin Noueihed; editing by Jason Neely

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