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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
3.42% 136.00 4.50
Beltone Holding
BTFH
0.99% 3.07 0.03

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).