Qatar's move on EFG Hermes is provoking a backlash. The Gulf emirate's play for key assets of the region's preeminent investment bankhas prompted a rival consortium, notably backed by billionaire Naguib Sawiris, to declare an interest in buying it outright.
The Qatari deal was approved last week by shareholders, but in the current volatile situation anything can happen.
The possible bidding war highlights the rising Egyptian concerns over the country's financial relations with Qatar. The rival Planet consortium promises to "prevent the breakup of a flagship Egyptian multinational" and is counting on regulatory intervention.
No comments:
Post a Comment