Maspero restructure plan aims to settle EGP 32.8 debt over three years, privatize subsidiaries

The government’s plan to restructure the state-owned Television and Radio Union (Maspero) aims to pay off EGP 32.8 in debt over the next three years, Planning Minister Hala El Said said yesterday, Al Masry Al Youm reports. The National Investment Bank, Maspero’s largest creditor, will manage debt settlement processes, which involve taking over some the union’s assets. The restructuring process might also see the privatization of some of Maspero’s subsidiaries, in addition to creating a fund for end-of-service payments, Al Mal reports.