Selling the Suez Canal

Reports in Egypt have said the Egyptian government intends to sell the Suez Canal organization within Egypt's privatization plan.

Sources stated that the committee for determining prices and methods of selling the shares of the participant companies under the chairmanship of Egyptian Minister of Trade and Supply Ahmed El-Goweili has agreed to sell shares of the Suez Canal organization and the Canal Company for Harbors as well as the projects of the Suez Canal Company at a cost of LE 560 per share.

The Egyptian government has not yet denied that they intend to make the sale, which suggests that the reports are true.