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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
-0.94% 131.75 -1.25
Orascom Investment Holding
OIH
-0.68% 1.47 -0.01
Beltone Holding
BTFH
2.60% 3.16 0.08

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).