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Egypt will rule on Mobinil dispute on Tuesday, says report
- Egypt: Monday, August 03 - 2009 at 12:17
Egypt's Financial Supervisory Authority (FSA) has said it will rule on Tuesday on an appeal by France Telecom over an offer to buy all outstanding shares in mobile operator Mobinil, Reuters has reported, citing the local Al-Borsa newspaper. France Telecom was seeking to buy the outstanding shares for 237 Egyptian pounds each, significantly lower than what the regulator has previously demanded it pay, the newspaper said. A ruling in France Telecom's favour could pave the way for the purchase to go through the following day, Khaled Serry Seyam, the newspaper has quoted FSA deputy chairman, as saying.
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