Egypt offers 10% state-stake sale in Telecom Egypt – sources

Egypt is offering to sell a 10 percent stake in state-run Telecom Egypt, sources with knowledge of the offer told Reuters on Monday.

The Egyptian government holds 80 percent of Telecom Egypt’s shares, while the other 20 percent already trade on the Egyptian stock exchange (EGX). The sale is being managed by local investment banks CI Capital and Ahly Pharos, the sources further told Reuters.