CAIRO, Jan 2 (Reuters) - An Egyptian appeals committee rejected on Saturday a request by Orascom Telecom to block an offer by France Telecom to buy all outstanding Mobinil shares, the regulator said.
'The committee has approved the earlier decision,' allowing France Telecom to go ahead with its offer, Khaled Serry Seyam, deputy chairman of the Egyptian Financial Supervisory Authority, told Reuters.
An earlier appeals committee last month approved an offer by France Telecom subsidiary Orange Participations to buy shares in Mobinil, Egypt's biggest mobile operator by subscribers, for 245 Egyptian pounds ($44.63) each.
The offer began on Dec. 15 and ends on Jan. 14.
($1=5.489 Egyptian Pound)
(Writing by Patrick Werr) Keywords: ORASCOMTELECOM EGYPT/ (patrick.werr@thomsonreuters.com; +20 2 2578 3290/1) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'The committee has approved the earlier decision,' allowing France Telecom to go ahead with its offer, Khaled Serry Seyam, deputy chairman of the Egyptian Financial Supervisory Authority, told Reuters.
An earlier appeals committee last month approved an offer by France Telecom subsidiary Orange Participations to buy shares in Mobinil, Egypt's biggest mobile operator by subscribers, for 245 Egyptian pounds ($44.63) each.
The offer began on Dec. 15 and ends on Jan. 14.
($1=5.489 Egyptian Pound)
(Writing by Patrick Werr) Keywords: ORASCOMTELECOM EGYPT/ (patrick.werr@thomsonreuters.com; +20 2 2578 3290/1) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.