The ruling on a lawsuit by Orascom Telecom shareholders seeking to block a split of the company has been postponed, Dow Jones reports quoting people familiar with the matter.
According to the report the ruling will now be announced on 17 December.
Last…
The ruling on a lawsuit by Orascom Telecom shareholders seeking to block a split of the company has been postponed, Dow Jones reports quoting people familiar with the matter.
According to the report the ruling will now be announced on 17 December.
Last April, a majority of shareholders approved the demerger of the company into Orascom Telecom Holding on the one hand, and Orascom Telecom Media and Technology Holding on the other hand.
But a number of shareholders have taken legal action against the Egyptian Financial Supervisory Authority (EFSA) to stop the breakup that was expected to take place at the beginning of Q3.
The company did not reply to request for comments before press time.
