INVESTMENT WATCH- Retail chain HyperOne is planning to open a EGP 500 mn branch in Solaimaneyah City this year, founder and Chairman Mohamed El Hawary tells Al Masry Al Youm. The inauguration, which was originally slated for last year, was delayed due to “procedural issues” with the government, according to El Hawary. The company will press ahead with its previously announced plans to build new branches in Badr, Assiut, and Al Shorouk at a total cost of EGP 2 bn, despite not having resolved those issues, he says. Separately, El Hawary confirmed that HyperOne had received two separate bids to acquire stakes in the company, but said they were rejected. He had previously denied reports of investors bidding for a “major stake” in the company.

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