Cairo – Mubasher: Both Sixth of October for Development and Investment (SODIC) Co. and Madinet Nasr Housing and Development Co. denied news reports about possible merger deal between the two companies.
Earlier, El-Mal newspaper cited unnamed sources close to the matter, as saying that there was preliminary study regarding a possible merger between the two real estate firms.
SODIC’s stocks slipped 0.85% to EGP 12.94, while Madinet Nasr Housing's stock added 2.53% to EGP 14.06 during Thursday’s trading session.
In related development, SODIC’s CFO, Amr El-Hamoy denied such news reports.
