Egypt Considers Selling Stake in Stock Exchange, MENA Reports

By Salma El Wardany Aug. 14 (Bloomberg) -- 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. For Related News and Information: Top Stories: TOP Top Government Stories: GTOP Mideast Turmoil: EXTRA --With assistance from Ahmed A. Namatalla in Cairo. Editors: Claudia Maedler, Daliah Merzaban To contact the reporter on this story: Salma El Wardany in Cairo at +20-2224618508 or selwardany@bloomberg.net To contact the editor responsible for this story: Claudia Maedler at +971-4-364-1025 or cmaedler@bloomberg.net