Cairo - Mubasher: A Cairo administrative court ordered a rehearing for a lawsuit filed to nullify the sale of 20% of landline monopoly Telecom Egypt (TE) on 10 May 2016.
Telecom Egypt has floated a 20% stake, equivalent to 340 million shares at offer price of EGP 10 each on the Egyptian Exchange in 2005.
However, the state commissioner’s authority said that the subscription prospectus endorsed by the Egyptian Financial Supervisory Authority (EFSA) on 28 November 2005 might be invalid.
