MIDEAST STOCKS-Beltone bid boosts Egypt, petchems buoy Saudi | Reuters:
"News that Orascom Telecom Media and
Technology is seeking to buy Beltone Financial boosted Egypt's
stock market on Thursday, while rebounding petrochemical shares
continued to buoy Saudi Arabia.
Orascom Telecom and Act Financial want to buy
Beltone for 650 million Egyptian pounds ($83 million),
Orascom said in a statement to the bourse.
That was bullish news for a market that has been hit in
recent months by sluggish economic growth and foreign exchange
shortages. Orascom shares surged 8.6 percent and Beltone soared
20.8 percent."
'via Blog this'
No comments:
Post a Comment