Naguib Sawiris, chairman of Orascom Telecom Holding SAE, said he is concerned about capital outflows from Egypt following the unrest that led to the resignation of President Hosni Mubarak.
“I am concerned about the outflow of capital, yes you are right, but it will be temporary until people see a real democratic regime and see a return of normality,” Sawiris said in a phone interview on Bloomberg Television.
Egypt’s benchmark stock index tumbled 16 percent in the week before trading was suspended on Jan. 30. The stock market delayed reopening until Feb. 16 to give companies a chance to disclose information on the impact of the protests on their operations, the Cairo-based exchange said Feb. 12. Tomorrow is a public holiday.
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