Cairo - Mubasher: The stocks of both Commercial International Bank (CIB) and Orascom Telecom Media (OTMT) surged in Thursday's early trade after the announcement made by OTMT, that it seeks to acquire 100% of CIB's unit for nearly EGP 1 billion.
CIB said Thursday; it has received a non-binding offer from Orascom Telecom Media And Technology Holding (OTMT) to acquire 100% of CI Capital Holding.
OTMT's stocks advanced 11%, by Wednesday’s late trade, to reach EGP 0.54 with changed hands of more than 40 million shares worth EGP 24 million.
Meanwhile, the shares of CIB topped the trading values, in Thursday's early trade, as it recorded EGP 64 million with trading volumes of 1.8 million shares.
