Thursday 17 December 2015

Orascom's Sawiris to make bid to acquire CI Capital: sources | Reuters

Orascom's Sawiris to make bid to acquire CI Capital: sources | Reuters:

"Orascom Telecom's Neguib Sawiris (OTMT.CA) is expected to make a 1 billion Egyptian pound ($127.7 million) bid to buy Egyptian investment bank CI Capital, sources close to the matter said on Thursday.

The move is likely to be formally announced on Thursday, said the sources.

Egypt's Commercial International Bank (CIB) (COMI.CA), which owns CI Capital, is due to hold a meeting on Thursday to decide on the bid, said the sources. On Wednesday, a CIB official described the expected bid as "rumors"."



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