FACT CHECK- Is Mowasalat Misr fielding an acquisition offer? A report in AlBorsa yesterday claimed that public transport company Mowasalat Misr has received an offer from an unnamed European transport player to acquire a stake in the company. This is not true and the company is not currently considering offering a stake to any new investors, Vice Chairman Mohsen Sabra confirmed to Enterprise. Sabra and CEO Hisham Taha also denied there being any updates on the company’s IPO plans. Sabra had told us in August that Mowasalat is simply “studying the move” but hasn’t made any decisions on the matter.

OTHER M&A NEWS-

The Egyptian Company for Housing Development & Reconstruction (EHDR) is planning to submit an offer to acquire another 51% of Emerald Real Estate, which would bring its total stake to 90%, according to an EGX disclosure (pdf). The offer would see EHDR acquire the stake via a share swap.

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