Bloomberg News

Egyptian Stocks: Mobinil, Orascom Telecom Media, Beltone

February 09, 2012

Feb. 9 (Bloomberg) -- Egypt’s benchmark EGX30 Index advanced 0.9 percent to 4,753.65 at the 2:30 p.m. close in Cairo, its highest close in more than five months.

The following shares were active on the Egyptian Exchange today. Stock symbols follow company names.

Beltone Financial Holding (BTFH EY) fell for the first time in three days, dropping 5.1 percent to 13.17 Egyptian pounds. The Cairo-based investment bank said MM Group International for Industry & Trade bought 800,000 of its shares at 13.87 Egyptian pounds each yesterday. Beltone Chairman Aladdin Saba last week canceled the sale of his 20-percent stake in the company, after agreeing last month to sell it for 16 pounds a share.

Egyptian Co. for Mobile Services (EMOB EY) soared 8.8 percent to 136.37 pounds, the highest close since June 26. Investors were speculating the founder of the mobile phone company might sell his stake to France Telecom SA. Mobinil has no information on talks with France Telecom, the company said in a filing with the exchange.

Orascom Telecom Media & Technology Holding SAE (OTMT EY), which owns a stake in Mobinil, increased for a 12th day, gaining 9.2 percent to 1.43 pounds. The shares have been suspended from trading pending the company’s response to inquiries from the Egyptian bourse.

--Editors: Daliah Merzaban, Shanthy Nambiar

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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