Telecom Egypt IPO annulment case verdict postponed until 24 January 2017
The verdict on Telecom Egypt’s (TE) [ETEL.CA] IPO annulment case has been postponed until 24 January 2017. The State Council’s Commissioners’ Body (SCB) had recommended invalidating the IPO that had taken place in 2005 for 20% of the company’s shares. (Company disclosure) Telecom Egypt: EGP10.01 as of 06 December 2016, Rating: Neutral, TP: EGP10.25 per share, MCap: USD951mn, ETEL EY / ETEL.CA
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