HC: France Telecom Purchase Offer Is Profitable
Published Wednesday, 16 May 2012 15:14 | Written by Ahmed Fayez
HC Securities and Investments (HCSI), the independent financial adviser for the offer submitted by France Telecom’s MT Telecom SCRL to purchase 100% of the Egyptian Company for Mobile Services (Mobinil), asserting that the purchase offer is lucrative for Mobinil’s shareholders.
Following the Egyptian Company for Mobile Services assigning in accordance with the provisions of Article No. (338) of Chapter II of the Executive Regulation of Capital Market Law no. 95/1992, HCSI said it has concluded that Mobinil’s share price is evaluated at EGP 117.34 a share. The calculation is based on the Discounted Cash Flows (DCF) and Price-Earnings Ratio (P/E Ratio).
Moreover, HCSI mentioned that the offered price is 110.6% higher than the EGX’s average closing price during the 6 months before the negotiations between France Telecom and Mobinil started. The price is also 72.6% higher than the targeted price set by the independent financial adviser.
In the meanwhile, Mobinil Board of Directors see that the offered price is lucrative for the company’s shareholders.
The last day for France Telecom’s mandatory tender offer to acquire 100% of Mobinil shares at EGP 202.5 per share will be on Wednesday 23/05/2012, the close of share trading.
Forex Videos »
Insecurity in Mali worsens food crisis
Nigeria's apparent complacency about Western oil companies' theft-Africa Today-06-19-2012
Is British/Canadian desperation for Tanzanian gold a result of recession?-Africa Today-06-12-2012
OPEC Expected to Reduce Output If Oil Falls Further
Most Popular »
- Egypt’s Morsi Attends African Union’s 50th Anniversary Summit In Ethiopia
- Amid Mostly Red Performance, Egypt’s Benchmark Falls 1.56% In Week
- Egypt’s Benchmark Halts One-Day Rally, Opens Below 5355 Pts
- Egypt’s MSC Urges Petroleum To Secure Smart Petrol Cards
- Egypt's Morsi to Participate in 21st African Union Summit
