Egypt is offering to sell a 10% stake in state-controlled Telecom Egypt , sources with knowledge of the offer said on Monday.
Egyptian people are seen in front the headquarters of Telecom Egypt in Cairo, Egypt, September 21, 2017. REUTERS/Amr Abdallah Dalsh, sources with knowledge of the offer said on Monday.
The sale of state assets would be one of the first to buyers other than Gulf sovereign funds since President Abdel Fattah al-Sisi in April ordered the government to draw up a programme to attract $10 billion in "private participation" over each of the next four years. The government owns 80% of Telecom Egypt's shares. The sale is being managed by local investment banks CI Capital and Ahly Pharos, the sources added."Both, but appetite from foreigners seems low," the source added.Latest Updates
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