OTMT not intending to extend offer period for the acquisition of CIB’s CI Capital
According to unnamed sources, OTMT [OTMT.CA] is not intending to extend the offer period (which should expire by end of 1Q2016) for the acquisition of Commercial International Bank’s (CIB) [COMI.CA], CI Capital. This comes following various regulatory obstacles faced by OTMT to conclude the acquisition. (Al Mal) OTMT: EGP0.77 as of 27 March 2016, Rating: Sell, FV: EGP0.53 per share, MCap: USD455 million, OTMT EY / OTMT.CA CIB: EGP39.39 as of 27 March 2016, Rating: Buy, FV: EGP44.11 per share, MCap: USD5,088 million, COMI EY / COMI.CA
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