20 percent of Egypt's telecom company for sale
Egypt, Economics, 6/2/2000

The Egyptian government will raise 20% of the Egyptian communication company shares for sale in September, and with grant the company a third license for a Mobile Phone network for the year 2002.

Sources in the Egyptian cabinet told ArabicNews.com that there is a valuation for the company worth that varies between 24 to 25 billion L.E and therefore it is expected that the general treasury would gain 5 billion L.E by this 20 percent share sale.

The sources referred that a part of the Penzin, Gasoline and Mazot distribution company will be put for sale in the coming fall - expecting that this part would be between 10% - 20% in framework of the Egyptian government's plan for sell shares of petroleum companies.

Previous Stories:
  Morocco, Egypt sign cooperation agreements in cinema   (6/1/2000)
  Economic growth rate to hit 6 percent   (6/1/2000)
  Sunday: opening the first Arab conference of financial corporations in Cairo   (6/1/2000)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search