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Wednesday, 23 October 2019

Orascom Telecom shares still trading on London exchange despite split

Egyptian stock is frozen but UK trade is still going strong, with spokesman saying it has no right to force a suspension as company is reformed into two entities

Ahram Online, Wednesday 7 Dec 2011
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Views: 917

Egypt-based operator Orascom Telecom has said it not responsible for its stock still being traded on the London Stock Exchange.

 
OT's spokesman said that it had requested trade suspensions on both the Egypt and London exchanges until it completes its split into Orascom Telecom Holding (OTH) and Orascom Telecom Media and Technology.
 
Orascom Telecom stock has been suspended since last week due to the split.
 
CEO Khaled Bichara praised the Egyptian Stock Exchange for suspending trade but said the London exchange was a different matter.
 
"OT has no right to force the LSE to suspend share trading," he told an Egyptian economic newspaper.
 
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