Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Egypt Stocks: Orascom Telecom Gains, Remco Falls in Cairo

Dec. 2 (Bloomberg) -- Egypt’s benchmark EGX30 Index advanced 0.1 perent to 6,689.76 at the 2:30 p.m. close in Cairo, paring the drop for the week to 2.2 percent.

The following stocks rose or fell in Egypt. Symbols are in parentheses.

Orascom Telecom Holding SAE (ORTE EY) gained as much as 2.9 percent to 4.29 Egyptian pounds before closing 0.7 percent higher. VimpelCom Ltd., seeking a $6.5 illion merger with Naguib Sawiris’s Orascom Telecom and Weather Investments SpA, aims to close the deal in the first half of 2011 as it seeks approval from shareholders, Chief Executive Officer Alexander Izosimov said today in a statement.

Remco for Touristic Villages Construction (RTVC EY) fell for the third day, declining 1.5 percent to 4.49 Egyptian pounds. The Cairo-based real-estate developer plans to sell its Grand Hotel property to Incolease to help fund new projects, Al Alam Al Youm reported, citing Remco President Ayoub Adly Ayoub. Ayoub didn’t answer calls from Bloomberg News seeking comment.

To contact the reporter on this story: Alaa Shahine in Cairo at

To contact the editor responsible for this story: Claudia Maedler at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.