Cairo – Mubasher: Orascom Telecom Media and Technology Holding’s (OTMT) will finalise the acquisition of a 51% stake in Inertia for Engineering and Trading within two weeks.

OTMT is currently putting the finishing touches to the transaction and negotiating over its total value, sources told Alborsa New.

Most of the acquisition will be implemented through raising capital and a small percentage will be executed through buying shares, sources added.

Matouk Bassiouny Law Firm is the legal advisor to the seller, while White & Case LLP International is the legal advisor to the buyer.

In December 2017, OTMT’s board of directors had initially approved the acquisition of a 51% stake in Inertia for Engineering and Trading.