CSFB to manage Telecom Egypt sale

8 Aug 2005

The Egyptian government has chosen Credit Suisse unit CSFB to manage the sale of a stake in fixed line operator Telecom Egypt. CSFB was chosen over nine other banks, including HSBC and JPMorgan & Chase. The sale is expected to raise between USD500 million and USD1 billion, and will be conducted through an initial public offering in Egypt. Telecom Egypt currently holds a monopoly on fixed line services, due to end in early 2006.

Egypt, Telecom Egypt