Tuesday, February 14, 2012

Mobinil,OTMT Shrs Suspended Pending Clarity On Mobinil Future -EGX

Mobinil,OTMT Shrs Suspended Pending Clarity On Mobinil Future -EGX
 Sunday, Feb 12, 2012
DUBAI (Zawya Dow Jones)--The Egyptian Stock Exchange said Sunday it has suspended trading in the shares of Egyptian Co. for Mobile Services, or Mobinil's future.

The bourse management said it has halted trading on Mobinil until the company sends a joint OTMT and France Telecom (FTE) statement regarding the future of Mobinil it said in a statement. In a separate statement sent to the bourse, OTMT said that it is in "advanced negotiations with France Telecom" about the future of Mobinil. The two companies will issue a joint statement ahead of Monday's trading session, OTMT said.
Mobinil shares rallied 10% Thursday on speculation that OTMT is in talks with France Telecom over selling its stake in Mobinil

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