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MobiNil to list more share to meet ownership rules
- Egypt: Tuesday, February 05 - 2013 at 06:07
Egyptian mobile phone operator MobiNil has said it would prefer to list more shares on Cairo's stock exchange to meet new ownership rules, than sell a bigger stake to a local company, Reuters has reported. "We seek to raise our shares in Egypt to 15% and we have three steps to do that, another strategic partner, go to the stock market, or do both," said MobiNil CEO, Yves Gauthier. "The most favourable option is to go to the stock market." Asked when the company would do that, he said: "This depends on the economic situation in the country which is not very good ... or stable now." The new rules were passed in 2012.
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