By: Elsayed Seleman
Cairo - Mubasher: Standard Chartered Bank is interested in acquiring The United Bank of Egypt, a source told Mubasher on Monday.
This comes as the Central Bank of Egypt (CBE) intends to sell its stake in the bank, as part of a strategy by the Egyptian government to float and sell public banking assets.
The British Bank has shown interest in the acquisition of the United Bank, but negotiations remain in its initial stages, the source added.
The United Bank’s spokesperson refused to comment, saying that the bank is open to all of the investment options.
Translated by: Moslem Ali
