VOL. XLIII

No. 44

30-OCTOBER-2000

EGYPT

Egypt Postpones IPO Of Telecom Egypt

Egypt announced on 20 October that it had decided to postpone the initial public offering (IPO) for its national telecommunication firm, Telecom Egypt. Minister of Communication Ahmad al-Nazif told the local press that the delay was due to poor local and international stock market conditions, but confirmed that the offering would go ahead once the time was right.

With the Hermes Financial Index, Egypts bench market index,...