Vodafone Egypt signs MOU to raise stake in Bee, Masary Companies

Wed, 24 Feb 2021 - 12:05 GMT

The MOU signing marks the beginning of due diligence process for the companies, in one of the most significant deals in the Egyptian digital financial services market.

Orascom Development sells equity stake in Oberoi Zahra for $4M

Mon, 08 Jul 2019 - 01:17 GMT

“The sale of Oberoi Zahra will result in cash proceeds of $2 million and proceeds from the sale will be geared towards the expansion plans of the group.”

Telecom Egypt not to sell stake in Vodafone in current year

Fri, 08 Feb 2019 - 09:42 GMT

“We don’t have any intention to exit from Vodafone in the medium term,” an official told Egypt Today.

Alibaba to buy minority stake in Focus Media to tap digital marketing

Thu, 19 Jul 2018 - 08:54 GMT

Alibaba will acquire about 6.62 percent in Focus Media for 9.63 billion yuan ($1.43 billion) and possibly another 5.0 percent stake in the next 12 months, it said in a statement.

Abraaj Group sells its stake in Orascom Construction for $51.9M

Thu, 14 Jun 2018 - 01:15 GMT

Orascom added in a filing to the Egyptian Exchange that Abraaj’s stake was 5.4 percent in the company, amounting to about 6.26 million shares.

Uniper CEO insists on independence as Fortum to take stake

Wed, 06 Jun 2018 - 09:38 GMT

Fortum, which agreed to buy the 47 percent stake in Uniper held by former parent E.ON (EONGn.DE), still needs approval from Russian and European authorities.

Beltone’s board approves acquisition stake in Oragroup

Sun, 20 May 2018 - 10:42 GMT

This transaction comes in line with the company’s plan to grow its investments and expand in the market of financial services in the African continent.

Qatar steps in to rescue Rosneft's troubled stake sale to China

Sat, 05 May 2018 - 02:56 GMT

Qatar is taking a nearly 19 percent stake in Rosneft, rescuing the Russian oil major from its stalled deal to sell a major stake to China’s CEFC.

Apple hits record high after Buffett's Berkshire increases stake

Sat, 05 May 2018 - 12:13 GMT

Apple's stock hit an all-time high on Friday after Warren Buffett’s Berkshire Hathaway disclosed it bought an additional 75 million shares of the iPhone maker.

Carl Icahn buys stake in software provider VMware: CNBC

Wed, 18 Apr 2018 - 07:53 GMT

Computer maker Dell, which owns 80 percent of VMWare, said in February it was exploring a public offering or a combination with VMware.

Ezdehar, NBK negotiate to acquire stake in MisrCafé

Thu, 15 Mar 2018 - 11:03 GMT

Arqaam Capital is the financial advisor to Misr Café, and Matok Basyouni Legal Consultancy Office is the legal advisor to the NBK in the transaction.

Arabia Group to issue stake of 20-30% in EGX

Wed, 14 Mar 2018 - 09:09 GMT

The group clarified that the increase of its capital will be used to finance its upcoming expansion in the real estate market.

Egypt Telecom to acquire 5% stake of mobile market in 2018

Mon, 12 Mar 2018 - 10:29 GMT

Beltone Financial anticipated that the company’s market stake would increase to 12 percent by 2022 with 14.5 million subscribers.

QNB reduces its stake in Egyptian unit to 95%

Sun, 25 Feb 2018 - 02:42 GMT

QNB sold 13.5 million shares of QNB Alahli worth LE 815.12 million ($46 million), with a value of LE 60 per share.

Boeing says key issues remain in Embraer tie-up talks

Wed, 07 Feb 2018 - 07:19 GMT

Boeing said on Wednesday key issues remain in talks to forge a partnership with Brazil’s Embraer and stressed the price must make sense for all concerned.

Alibaba leads $1.24 billion investment in film unit of China's Wanda

Mon, 05 Feb 2018 - 02:14 GMT

Dalian Wanda Group is selling a $1.24 billion stake in its listed film business to a pair of investors led by Alibaba Group Holding Ltd (BABA.N).

Blackstone bets big on Wall St. information business with Thomson Reuters deal

Wed, 31 Jan 2018 - 07:24 GMT

The deal will give Thomson Reuters a formidable ally as it seeks to reinvigorate a business facing challenges from a shrinking and budget-conscious customer base.

Citigroup plans hiring drive as it re-enters Saudi Arabia

Wed, 25 Oct 2017 - 06:10 GMT

Citigroup wants to hire up to 20 bankers in Saudi Arabia.

Saudi Aramco in stake sale talks with Chinese investor: sources

Sat, 14 Oct 2017 - 11:24 GMT

Saudi Aramco is considering the sale of a stake to a Chinese investor as plans for its highly-anticipated IPO are pushed beyond its 2018 target.