Etisalat’s Egypt Unit Said to Plan $500 Million Cairo IPO - Bloomberg

Etisalat’s Egypt Unit Said to Plan $500 Million Cairo IPO - Bloomberg:



"Etisalat Misr, the Egyptian phone company controlled by Emirates Telecommunications Corp. (ETISALAT), is in talks with investment banks about what may be Egypt’s largest initial public offering in almost five years, according to three people with knowledge of the matter.



Etisalat Misr, 66 percent owned by the Abu Dhabi company known as Etisalat, has asked banks to make proposals to manage the share sale. The IPO is planned for Cairo and may raise about $500 million, the people said, asking not to be identified as the information isn’t public.



A spokesman for Etisalat Misr didn’t return e-mails and telephone calls requesting comment."



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