The Clap
The Central Bank of Egypt is reportedly tapping investment banks as it looks for a new buyer for United Bank.
What
Investment banks EFG Hermes, CI Capital, & Al-Ahly Pharos have not received any requests so far, according to different sources.
So What
Prime Minister Mostafa Madbouly had stated the government is more inclined to offer assets on its state-privatization program to strategic investors, while not eliminating prospects of an EGX-listing.
Now What
The Prime Minister’s statement is in line with recent news of the government’s intention to sell an additional stake in Telecom Egypt to a strategic investor.