And the Ministry of Finance added, according to the company’s statement, on Tuesday, that the matter did not exceed more than a “preliminary study that is still in the beginning phase,” and confirmed that the matter is in the initial stages, and no official decisions have been taken regarding it.
On Monday, Reuters news agency quoted sources as saying that the Egyptian government is considering offering a 10 percent stake in Telecom Egypt on the Egyptian Stock Exchange, and that investment banks CI Capital and Al Ahly Pharos are leading the sale.
And last February, the Egyptian government announced a list of 32 companies that the state will offer on the stock exchange or sell shares of them to major investors, over the course of a year starting from the first quarter of this year until the first quarter of 2024.
The offering plan includes Banque du Caire, United Bank, Arab African International Bank, as well as Misr Insurance Company.
The Egyptian government owns 80 percent of Telecom Egypt, and 20 percent of it is traded on the Egyptian Stock Exchange.
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