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Belton says conclusion of negotiation in 3 days....
Released on - Thursday,05 November , 2009 -17:07 38
Arab Finance: Belton Financial Holding - (BTFH) sent a release to EGX concerning current negotiation with Pioneers Holding (PIOH). Beltone expected to conclude such negotiation in the next three days.
The company also asserted that, it will brief EGX on outcomes once the negotiation concludes. It sets Sunday 8/11/2009 (before start of trading session) as maximum deadline.
EGX administration suspended trading on companies’ shares until being notified with negotiation outcomes.
In a related context, Reutrs reported that analysts have said a tie-up between the two firms could be complementary.
Beltone, which oversees some $5 billion in assets, is based in Egypt and has offices in New York, Saudi Arabia, Qatar and the United Arab Emirates.
Pioneers, which specialises in brokerage services, offers market research and investment banking for retail and institutional clients. It operates in Egypt, Saudi Arabia, the UAE, Bahrain and Syria.
Source: EGX & Reuters