CAIRO Feb 25 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