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Egypt Said to Probe 12 People on Beltone Share Manipulation

Egypt’s market regulator has referred 12 people to general prosecution for manipulating the shares of Beltone Financial Holding, according to an official.

The Egyptian Financial Supervisory Authority referred the persons earlier this month, the official at the regulator said, asking not to be identified because the information is private. Beltone isn’t a party in this issue and hasn’t been informed that any of the people involved are related to the company, Beltone’s Corporate Finance and Investment Relations Director Osama Rashad said by phone.