VOL. XLV
No 24
17-June-2002
EGYPT
Burgan Bank Deal With National BankOf Egypt Falters Over Share Price
The Chairman of theNational Bank of Egypt, 'Adil 'Azzi,has revealed details of the failed negotiations with Burgan Bank in which theKuwaiti bank had hoped to acquire 18mn shares (representing a 40% stake) in theEgyptian bank. News of the failure is having a negative impact on the Egyptianstock market, particularly in view of reports of the abuse of insideinformation to realize capital gains.
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