Egyptian Stocks: Mobinil, Orascom Telecom Media, Beltone

Egypt’s benchmark EGX30 Index (EGX30) gained for a second day, rising 1.8 percent to 4,735.15 at the 2:30 p.m. close in Cairo, the highest close in a week. That trimmed the gauge’s decline this week to 1.9 percent.

The following shares were active on the Egyptian Exchange. Stock symbols follow company names.

Beltone Financial Holding (BTFH) climbed the most since March 20, gaining 3.8 percent to 13.49 Egyptian pounds. The investment bank’s British unit acquired a license from the Financial Services Authority in London allowing it to operate in the U.K. and euro zone.

Egyptian Co. for Mobile Services (EMOB EY) increased 1.7 percent to 179.97 pounds, the highest level since March 21. France Telecom SA (FTE) will seek approval from Egyptian regulators to buy out the remaining publicly traded shares of the country’s second-biggest mobile phone company for 202.5 pounds a share.

Orascom Telecom Media & Technology Holding SAE (OTMT) jumped 6.7 percent to 1.43 pounds, the highest level in two weeks. Orascom Telecom investors voted last month to sell most of the company’s stake in Mobinil to France Telecom.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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