Afran : Egypt's Mobinil names advisor on France Tel offer
on 2009/12/22 10:01:40
Afran

20091221

CAIRO (Reuters) - Egyptian mobile operator Mobinil has appointed an independent financial advisor to evaluate France Telecom's offer to buy it, the company said on Sunday.

The firm has appointed Prime Capital to submit an evaluation of the offer before January 5, it said in a statement to the stock exchange.

Mobinil will announce the results of the evaluation before January 9, it said.

The Egyptian mobile firm has been at the centre of a long and often acrimonious dispute between its two main shareholders, Orascom Telecom ORTEq.L and France Telecom.

France Telecom subsidiary Orange Participations is offering 245 Egyptian pounds for each freely traded share in Mobinil. The offer for the shares ends at the close of the trading session on January 14.
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