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On Thursday, Beltone announced it was unable to reach an agreement with CIB to extend the deadline for the acquisition offer
The contract has not been renewed and the down payment was repaid to Beltone, says CIB
Beltone is negotiating new deals in order to become one of the largest investment banks in emerging markets
Exporting Committee developed a strategy to help its subsidiary MAC out of the exports decline, based on adding new production lines and opening new African and Asian markets
This agreement will expand Beltone’s presence in the US, in addition to more than 120 international markets
There are doubts about the banks’ abilities to continue this exceptional performance during the second and third quarters due to lack of foreign currency, poor commercial financing, and decline in lending loan rates
EFSA is only concerned about the violations that require reconciliation or resorting to courts, says Samy
The release stated that the chairperson of the Egyptian Exchange (EGX) had issued multiple and consecutive decisions to repeatedly cancel the executed transactions on Beltone shares during the months of February, March, April, and May
Head of the EFSA Sherif Samy said that the authority is reviewing the documentation provided by OTMT on the transfer of ownership of a controlling stake to another shareholder, which obligates Sawiris to make a compulsory tender offer to buy the rest of the shares.
Orascom has not yet reached the reconciliation phase
The examination of the current deal is more accurate than that of Beltone’s deal, led to discovering previous violation, says EFSA chairperson
Businessman Naguib Sawiris insists that Tarek Amer used his position to prevent state-owned banks from funding his bid to acquire CI Capital
Sawiris applies to establish a €50m bank for SMEs in Luxembourg
Orascom Telecom Media and Technology Holding (OTMT) announced today that its management has agreed to nominate Beltone Financial Holding to purchase 100% of CI Capital.
Reducing maximum loan per customer and bank contributions in capital market funds for better risk management and to diversify its applications
EFSA’s work comes in line with the procedures for an IPO on the Egyptian Exchange (EGX).
The loan will be used in CI Capital acquisition in preparation for the merging: Sources
By doing so, they hope to compensate for the recession in the market throughout the three years following the January 25 Revolution in 2011.
OTMT forced to deconsolidate tech company and hopes pending issues will be resolved
EFSA is studying the offer
OTMT’s share of the offer is 87% and Act’s share of the offer is 13%, the transaction value is estimated at up to EGP 650m
Limited bank capital may limit ability to achieve rapid growth in its activity, says Beltone Financial
Firm will not invest with the fund in the stock market, investor relations manager says
54.4m shares purchased represent less than 9% of total Hermes shares
Sawiris-led Alliance purchasing 20% stake in Hermes from shareholders remains committed even if shares restricted from sale during first year
Reuters – Egypt’s stock exchange has granted Beltone Financial (BTFH.CA) the country’s first licence for exchange traded funds (ETF), the bourse’s head Mohamed Omran said on Monday, adding that trading could start within six weeks. Egypt, whose economy has been battered by more than three years of political and economic turmoil, is trying to attract …
Reuters – Egypt’s financial market regulator, seeking to attract capital back to the stock market, has released rules to facilitate the creation of index and real estate funds as well as amendments to margin trading rules. Sherif Samy, head of the Egyptian Financial Supervisory Authority, said the changes would increase liquidity in the market and …
Exchange traded funds serve as open investment funds which follow the movement of specific indicators, listing and trading their supplementary documents on the stock market as shares and bonds.
Return rates on government debt tools have been steadily increasing since former president Mohamed Morsi’s constitutional declaration on 22 November 2012, a fact which has been compounded by repeated credit downgrades seen since the outbreak of the January 25th revolution by international rating agencies.
Pioneers Holding, Beltone Financial and the Financial Brokerage Group published their stock trading information online.