Saturday, January 16, 2010

Egypt - Court preliminary ruling blocks FT's bid for fulll control of Mobinil

[ft] France Telecom’s hopes of taking full control of ECMS were dashed on Wednesday when an Egyptian court blocked its offer for minority stakes in the Egyptian mobile operator.

The Cairo court placed an injunction on the French group’s €1.5bn bid for outstanding stakes in ECMS, due to expire on Thursday after concluding that the price was too low.

France Telecom thwarted in ECMS bid

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