Mobinil board approves France Telecom buyout offer

News Wireless Egypt 17 MEI 2012
Mobinil board approves France Telecom buyout offer
The board of Egyptian operator Mobinil has approved the mandatory buyout offer submitted by France Telecom subsidiary MT Telecom for 100 million shares (100%) of Mobinil. Independent financial advisor HC Securities had valued the company's shares at EGP 117.34 compared with the submitted price of EGP 202.5 per share. Mobinil added in a statement sent to the bourse that the board considers the submitted price good for shareholders, workers and company.

Categories:

Mobile

Companies:

France Telecom,  MobiNil

Countries:

Egypt

Tags:

M&A buyouts & divestments

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