By Ahmed Allam

Cairo – Mubasher: CIB and OTMT’s Beltone Financial Holding have obtained regulatory approval to extend the deadline for the latter’s buy offer for CIB’s investment banking arm for 14 days, CI Capital CEO Mahmoud Atallah.

The deadline of the second offer period was supposedly on 28 April, but another 14-day extension is now granted for the third time, Atallah told Mubasher.

Earlier, OTMT said that Beltone seeks to finalise the agreement to fully acquire CI Capital before the end of the first quarter of 2016, after obtaining all necessary approvals.