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14-Sep-2016

Sawiris interested in mining and telecom sectors in Argentina and ready to invest USD250-500mn

Naguib Sawiris, Chairman and CEO of OTMT [OTMT.CA], has announced in a Bloomberg interview that he is interested in the mining and telecom sectors in Argentina. However, it is still not clear if these investments would be made through OTMT. Sawiris is ready to invest USD250-500mn in Argentina. Sawiris had previously announced his interest in Brazilian telecom operator, Oi in June and is in discussions with bondholders. However, if completed, the potential investment would not be made through OTMT, according to management. (Bloomberg)   OTMT: EGP0.56 as of 08 September 2016, Rating: Sell, FV: EGP0.53 per share, MCap: USD331mn, OTMT EY / OTMT.CA

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