Egyptian Financial Supervisory Authority (EFSA) announced in a statement that the decision on Beltone Financial’s bid to acquire CI Capital is pending ruling by an appeals court in an outstanding case. The case is related to a ruling by a lower court requiring Commercial International Bank (CIB), which owns 99.98% of CI Capital, to issue a mandatory tender for outstanding shares held by some shareholders. This issue could be resolved if CIB buys shares in question or if there is a ruling in favour of the bank. EFSA further stated that Naguib Sawiris, the main shareholder in Orascom Telecom Media and Technology (OTMT), must first settle earlier violations related to revising OTMT’s restructuring. (Bloomberg)   CIB: EGP39.73 as of 13 April 2016, Rating: Buy, FV: EGP44.11 per share, MCap: USD5,132 million, COMI EY / COMI.CA OTMT: EGP0.76 as of 13 April 2016, Rating: Sell, FV: EGP0.53 per share, MCap: USD449 million, OTMT EY / OTMT.CA