On The Money - In Brief

Mergers, Acquisitions and Financial Results

- The Egyptian Telecommunications Ministry revealed during a press conference that shares of Telecom Egypt will be sold for L.E14.80. The Ministry had stated at an earlier date that a 20% stake - 340 million shares - of the company will be offered of which 10% will be in the form of a local public offering and 10% in the form of a private placement. One percent of the local offering will be assigned to employees of Telecom Egypt at a discounted price.