Egypt will offer 20 percent of telecom company

Egypt will offer 20 percent of its fixed line monopoly Egypt telecom for sale at the end of October at a total of $1.2-1.4billion

10 percent would be offered on the local market and the rest on international markets.

A further five percent stake will be sold to the company’s employee union (the company's total valuation is $6-7 billion ) (El Safwa Stock Brokers [1])