Financial Advisor For Telecom Deal Assigned: Mobinil

By Yomna Yasser On Apr 26, 2012

Egyptian Company for Mobile Services (Mobinil) – (EMOB.CA) announced that company’s BOD assigned Cairo Financial Investments Company as its independent financial adviser to evaluate the mandatory tender offer submitted by France Telecom’s MT Telecom SCRL to buy 100 % of Mobinil.

Mobinil added, in a release sent to EGX that, BOD would release a statement clarifying its opinion in the feasibility, results and importance of the bid.

Egyptian Financial Supervisory Authority (EFSA) approved last Sunday tender offer submitted by MT Telecom SCRL to acquire up to 100.0000.000 shares representing 100 % of Egyptian Company for Mobile Services (Mobinil) – (EMOB.CA) at LE 202.5 per share.