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Mashreqbank in Egypt bid
- Egypt: Monday, September 17 - 2007 at 06:37
The UAE's Mashreqbank is weighing up a plan to bid for a sizeable stake in Egypt's state-owned Banque du Caire, reported Gulf News citing the Al Alam Al Youm Arabic newspaper. Mohammed Badra, who heads up Mashreqbank's operations in Egypt, said the lender was considering 'competing strongly for Banque du Caire'. The Egyptian government is to privatise the bank and is hoping to raise over $1.6bn in the process.
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Jonathan Sheikh-Miller, Deputy EditorMonday, September 17 - 2007 at 06:37 UAE local time (GMT+4)
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