OTMT Shares Suspended Amid Mobinil Deal: EGX

The Egyptian Exchange (EGX) suspended trading in Orascom Telecom Media And Technology Holding (OTMT)’s shares at the start of Thursday’s session after France Telecom said it had reached a final agreement on terms for purchasing OTMT’s stake in Egyptian mobile operator Mobinil.

According to Reuters, The agreement means France Telecom will now launch a tender offer to acquire 100 percent of Mobinil’s capital at a price of 202.5 Egyptian pounds per share, subject to regulatory approval, the two companies said in a joint statement.  Mobinil (EMOB.CA) shares are up 3.1 percent.

Leave a comment