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EFSA delays Beltone's acquisition of CI Capital

EFSA delays Beltone's acquisition of CI Capital
Business tycoon Naguib Sawiris (Photo Credit: Arabianeye - Reuters)
CIB
COMI
-4.13% 71.90 -3.10
Orascom Investment Holding
OIH
-5.10% 0.34 -0.02
Beltone Holding
BTFH
-5.82% 2.75 -0.17

Cairo – Mubasher: The Egyptian Financial Supervisory Authority (EFSA) announced Wednesday postponing a decision on the acquisition bid made by Beltone Financial Holding for CIB's investment banking arm CI Capital.

The market regulator said it would wait a resolution of a court case involving Naguib Sawiris who is a major shareholder in Orascom Telecom Media and Technology (OTMT).