Egypt regulator approves Qatar bank's offer for NSGB
CAIRO Feb 25 (Reuters) - Egypt's financial regulatory authority has approved an offer by Qatar National Bank to buy 100 percent of National Societe Generale Bank.
Ashraf El Sharkawy, head of the Egyptian Financial Supervisory Authority, told Reuters it had obliged Qatar National Bank to submit an offer for 100 percent of NSGB. Qatar National Bank said in December it would buy a 77 percent stake in NSGB held by French bank Societe Generale.
Speaking by telephone, Sharkawy said the authority had approved the offer. "Yes. We obliged Qatar National Bank to present an offer for 100 percent," he said.
(Reporting by Ehab Farouk; Writing by Tom Perry; Editing by Louise Heavens)
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Analysis: Boeing bidders dangle goodies to win 777X jetliner