Wednesday 9 March 2011

Egypt awaits the bargain hunters - The National

The steep decline in share prices of Egyptian companies traded on foreign exchanges and the drops that are expected when the Egyptian Exchange, reopens will make the country's top companies acquisition targets, says the head of Egypt's largest bank.

Hisham Ezz al Arab, the chairman and managing director of Commercial International Bank,said investment bankers would soon begin circling Egypt's companies.

"Generally companies will be too cheap," he said in an interview in his Cairo office. "The business environment in Egypt has changed and will change … That makes it very much a good, healthy business environment. If I'm sitting at one of the international corporates, I would definitely and seriously look for targets."

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