Cairo-Mubasher: The Commercial International Bank –Egypt (CBI) asked NBE Capital to submit a non-binding offer to acquire its investment arm CI Capital.

CIB received a letter on Thursday from NBE Capital, a subsidiary from the National Bank of Egypt (NBE), showing interest in acquiring CI Capital, without submitting a non-binding offer.

CI Capital's CEO told Mubasher in January that OTMT may finalise due diligence over his company in the following two weeks.

Last December, CIB said it has received a non-binding offer from Orascom Telecom Media and Technology Holding to acquire 100% of CI Capital Holding.

The deal value will be within the range of EGP 1 billion, said a bourse statement earlier.