Egypt Considers Selling Stake in Stock Exchange, MENA Reports

Egypt is considering selling a stake in the country’s stock market, state-run Middle East News Agency reported today.

Shareholders might include banks, financial institutions, brokerage firms and investors, Cairo-based MENA said, citing Ashraf El-Sharkawy, chairman of the Egyptian Financial Supervisory Authority. The government would retain a majority stake. The move requires parliamentary approval, El-Sharkawy said.

El-Sharkawy didn’t answer two calls by Bloomberg News to his mobile phone.

To contact the reporter on this story: Salma El Wardany in Cairo at selwardany@bloomberg.net

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

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