MM Group for Industry and International Trade (MTI) [MTIE.CA] announced that Ebtikar for Financial Investment, its JV with BPE Holding for Financial Investments, acquired a 33.7% stake for EGP130mn in Masary, which operates in Egypt’s electronic payments sector through c60k points of sale. This transaction will increase its ownership in Masary to c29% from 11% currently. On another note, MTI announced that it has mutually agreed with Alturki Holding Company not to pursue the acquisition of 100% of Itisalat International Egypt (i2), a major distributer of consumer electronics and telecommunications; United Retail Company (URC), a retail and care business; and DTR Trading – Dubai Multi Commodities Center (DMCC).