August 6, 2014 / 6:22 AM / 3 years ago

Abu Dhabi's Etisalat says Egyptian unit considering IPO

DUBAI, Aug 6 (Reuters) - United Arab Emirates telecommunications operator Etisalat said on Wednesday that its Egyptian unit was considering whether to conduct an initial public offer of shares and that no decision had been taken yet.

Etisalat Misr is planning a $500 million share sale on the Egyptian stock exchange, Bloomberg reported earlier this week, quoting unnamed sources.

"No decision has been taken yet regarding the IPO as the subject is still under review by Etisalat Misr's board and it is subject to approval by the company's shareholders including Etisalat," the parent said in a statement to Abu Dhabi's bourse. (Reporting by Praveen Menon; Editing by Andrew Torchia)

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