UPDATE 2-MIDEAST STOCKS-Telecoms boost Egypt, drag down Saudi Arabia | Reuters:
"Telecommunications stocks boosted Egypt's equity market on Monday after French operator Orange said it would increase its stake in local firm Mobinil, while two major phone operators in Saudi Arabia fell as the regulator cut the fees they can charge.
Egypt's benchmark stock index rose 1.9 percent as Orascom Telecom Media and Technology (OTMT) surged 5.8 percent, while telecommunications operator Mobinil, which is not part of the benchmark, jumped its daily 10 percent limit.
French telecommunications firm Orange and OTMT said on Monday that OTMT would sell its 5 percent stake in Mobinil to Orange for about 209.6 million euros."
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