Egypt's National Societe Generale Bank slumped after the country's regulator extended Qatar National Bank's stake purchase offer deadline to Feb. 20, weighing on Cairo's bourse, while Gulf markets were mixed in lacklustre trading.
NSGB fell 5.7 percent, taking November losses to 15.8 percent, after rallying for the last four months on stake
purchase talks.
Societe Generale is nearing the sale of its majority stake in NSGB to QNB, sources familiar with the matter said earlier this month. If concluded, the Qatari bank would be obliged to offer to buy out minority shareholders. Along with minority shareholders' stake in the lender, the deal value is about $2.6 billion.
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