Egypt exchange suspends Mobinil trading

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CAIRO: The Egyptian Exchange suspended trading in Mobinil shares at the start of Thursday’s session, a day after the mobile phone company’s stock surged 10 percent on speculation over potential changes in its shareholder structure.

Telecoms magnate Naguib Sawiris, founder of Mobinil’s Egyptian shareholder Orascom Telecom, told Reuters near the close of trading on Wednesday that he had no plan to sell shares in Mobinil, which made a net loss in the second quarter.

Mobinil’s main shareholders are Orascom and France Telecom.


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