Is TBS still in play?

M&A WATCH- Take this with a heaping tablespoonful of salt: A confused Daily News Egypt suggests that both Al Hokair and Edita have backed away from bids for bakery chain TBS, but then claims a few paragraphs later that it “learnt from sources” that an EGP 130-150 mn transaction is still in the works — with who, exactly, is left unclear — and “the acquisition will be partial and may end up being a controlling stake.” Read the story here, or just do as we are and keep your ear to the ground.