Egypt regulator to rule on France Telecom’s appeal on Tuesday

www.WirelessFederation.com/news: The Egyptian telecoms regulator will give out ruling on an appeal by France Telecom for an offer to purchase all outstanding shares of Egyptian mobile operator MobiNil.
According to a local media report, France Telecom was seeking to buy the outstanding shares for 237 Egyptian pounds each, significantly lower than what the regulator has previously demanded it pay.
A ruling in France Telecom’s favour could pave the way for the purchase to go through the following day, Khaled Serry Seyam, deputy chairman of Egypt’s Financial Supervisory Authority reportedly said.
A spokesman for Egypt’s Capital Market Authority said the authority’s appeal committee would hear the case in a session on Tuesday.