Orascom Investment Holding
OIH
-3.51%
0.41
-0.01
OIH
Beltone Holding
BTFH
-2.40%
3.25
-0.08
BTFH
Cairo-Mubasher: Beltone Financial announced Thursday that it has received a letter of intent from both Orascom Telecom Media and Technology Holding (OTMT) and Act Financial, as they seek to acquire 100% of the company's shares.
The deal value is estimated at nearly EGP 650 million, which is equivalent to EGP 4 per share, said a bourse statement.
OTMT will contribute 87% in this offer, while Act Financial will hold a share of 13%.
Following the bid submission, the deal's parties will run a due diligence process, noted the bourse statement.
Source:
Mubasher