Nile Telecom will list in UAE, Egypt

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By  Published  September 29, 2006

Nile Telecom, Egypt’s newly-created third telecommunication company, is to be dual-listed on the Egyptian and UAE stock markets.

The Etisalat-led consortium that won Egypt’s third mobile licence has revealed it will sell 30% of the operating company it formed on the Egyptian stock exchange.

The new firm will also eventually be listed in the UAE.

The consortium, which includes Egypt Post, the National Bank of Egypt and the Commercial International Bank, was granted the licence in July. Its offer valued the licence at US$2.9 billion.

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