Cairo – Mubasher: The board of directors of Orascom Telecom Media and Technology Holding (OTMT) approved financing through debt current accounts with a maximum of EGP 924m to Beltone Financial Holding.
This move aims to allow Beltone to finalize the acquisition of 100% of CI Capital Holding.
The debt value stipulated to be settled by Beltone in cash through its own financial resources or by issuing new shares through increasing its capital.
OTMT said earlier, that Beltone seeks to finalize the agreement to fully acquire CI Capital before the end of the first quarter of 2016, after obtaining all necessary approvals.
