Egypt's OTMT approves final offer for CI Capital

February 11, 2016 7:49 AM

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CAIRO Feb 11 Egyptian firm Orascom Telecom and Technology has approved the final offer for the acquisition of CI Capital, a subsidiary of Commercial International Bank, the company said on Thursday.

OTMT, which has holdings in media, technology and cable businesses as well as energy, transport and logistics, is expanding into financial services. It plans to merge CI Capital with Beltone Financial, which it bought last month for almost 650 million Egyptian pounds ($83 million).

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