CAIRO, June 9 (Reuters) - Egypt's Commercial International Bank (CIB) will no longer sell its investment bank CI Capital to Beltone Financial, sources told Reuters on Thursday.
In February, CIB signed a deal to sell investment bank CI Capital to Beltone, a unit of billionaire Naguib Sawiris' Orascom Telecom, for 924 million Egyptian pounds ($104 million).
The deal fell through following a failure to receive the necessary regulatory approvals, the sources said.
(Reporting by Ehab Farouk; Writing by Eric Knecht, editing by David Evans) ((eric.knecht@thomsonreuters.com; +20 2 2394 8102; Reuters Messaging: eric.knecht.thomsonreuters.com@reuters.net))
In February, CIB signed a deal to sell investment bank CI Capital to Beltone, a unit of billionaire Naguib Sawiris' Orascom Telecom, for 924 million Egyptian pounds ($104 million).
The deal fell through following a failure to receive the necessary regulatory approvals, the sources said.
(Reporting by Ehab Farouk; Writing by Eric Knecht, editing by David Evans) ((eric.knecht@thomsonreuters.com; +20 2 2394 8102; Reuters Messaging: eric.knecht.thomsonreuters.com@reuters.net))
