National Bank of Egypt makes counterbid for CI Capital: Reuters

Reuters , Ahram Online , Thursday 4 Feb 2016

The National Bank of Egypt's investment banking arm has made a counterbid for CI Capital, an NBE source told Reuters on Thursday.

In December, the board of directors in Egypt's leading listed bank approved “moving forward” with an offer by business tycoon Naguib Sawiris to acquire its investment bank subsidiary CI Capital through a non-binding offer submitted by Orascom Telecom for Media and Technology (OTMT) for LE 1 billion.

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