{"id":568882,"date":"2020-02-06T04:23:52","date_gmt":"2020-02-06T04:23:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/"},"modified":"2020-02-06T04:23:52","modified_gmt":"2020-02-06T04:23:52","slug":"what-were-tracking-on-6-february-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/","title":{"rendered":"What we\u2019re tracking on 6 February 2020"},"content":{"rendered":"<p><strong>The business community will be watching closely in the days ahead as regulators raise <\/strong><strong>questions about two transactions that count among the largest M&As ever attempted in Egypt. <\/strong>The Financial Regulatory Authority has apparently required STC to make a tender offer for 100% of Vodafone Egypt. The requirement was triggered after the Saudi network operator entered into an agreement to acquire the 55% stake in Vodafone Egypt help by Vodafone Group.<\/p>\n<p>Meanwhile, <strong>the Egyptian Competition Authority is warning prominent healthcare groups <\/strong><strong>Cleopatra and Alameda not to go ahead with a merger<\/strong>, threatening all manner of consequences if they were to do so. The catch: On the numbers, there\u2019s no way to claim the merged entity would have a monopoly on beds. <strong>We have the full rundown on both stories in this morning\u2019s Speed Round<\/strong>, below.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>It\u2019s official: US President Donald Trump will stay in office after the Senate<\/strong><strong> voted to acquit him yesterday.<\/strong> The vote went largely as expected, with Democrats unanimously voting \u201cguilty\u201d on both charges of abuse of power and obstruction of Congress, and Republicans voting \u201cnot guilty\u201d on both. Mitt Romney <a href=\"https:\/\/www.washingtonpost.com\/politics\/with-his-vote-to-convict-trump-on-abuse-of-power-romney-will-break-with-his-party--and-awaits-the-consequences\/2020\/02\/05\/a76dce74-4841-11ea-ab15-b5df3261b710_story.html?itid=hp_rhp-bignews4_romney-220pm%3Ahomepage%2Fstory-ans\">was the sole Republican Senator<\/a> to break ranks. The story is front-page news globally this morning. See: <a href=\"https:\/\/www.washingtonpost.com\/politics\/impeachment-trial-live-updates\/2020\/02\/05\/a7a79daa-4807-11ea-ab15-b5df3261b710_story.html\">The Washington Post<\/a> | <a href=\"https:\/\/www.nytimes.com\/2020\/02\/05\/us\/politics\/trump-acquitted-impeachment.html?action=click&module=Spotlight&pgtype=Homepage\">New York Times<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/us-usa-trump-impeachment\/senate-acquits-trump-in-historic-vote-as-re-election-campaign-looms-idUSKBN1ZZ19C\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/07db1bfe-484c-11ea-aeb3-955839e06441\">Financial Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/senate-expected-to-vote-to-acquit-trump-on-impeachment-11580908525\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-05\/senate-acquits-trump-in-vote-ending-divisive-impeachment-trial?srnd=premium-middle-east\">Bloomberg<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>The unfortunately named FEDCOC, ECMA to draft proposal on tax policies to present to <\/strong><strong>FinMin:<\/strong> The Federation of Egyptian Chambers of Commerce (FEDCOC)\u2019s securities division and the Egyptian Capital Markets Association (ECMA) are meeting on Sunday with key stakeholders to look into the future of the provisional stamp tax and dividend tax on EGX transactions, <a href=\"https:\/\/alborsaanews.com\/2020\/02\/05\/1293285\">the local press reports<\/a>. The FEI and ECMA will present to the Finance Ministry their recommendations on these taxes, which will likely include a proposal to either lower or completely scrap the stamp tax to improve market liquidity, division head Awny Abdel Aziz says.<\/p>\n<p><strong>Egypt\u2019s African Union chairmanship ends next week: <\/strong>Egypt will hand the chairmanship of the African Union over to South Africa during a summit of African heads of state <a href=\"https:\/\/au.int\/en\/slides\/20191229\/33rd-african-union-summit\">scheduled to take place<\/a> on Sunday and Monday in Addis Ababa. Foreign Minister Sameh Shoukry is in the Ethiopian capital today to take part in preparatory meetings, during which officials will discuss a report on <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/08\/afcftas-operational-phase-launched-at-au-summit\/\">the African Continental Trade Area (AfCFTA)<\/a> project and the issue of forced displacement in Africa, <a href=\"http:\/\/bit.ly\/2OwE67B\">the ministry said<\/a>.<\/p>\n<p><strong>Nearly 100 Egyptian companies will participate in the Fruit Logistica Exhibition today in<\/strong><strong> Berlin<\/strong>, the world\u2019s biggest agriculture product expo, <a href=\"https:\/\/alborsaanews.com\/2020\/02\/05\/1293020\">according to the local press<\/a>. The exhibit will run until Saturday.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.kauffmanfellows.org\/\">Kauffman Fellows<\/a><\/strong><strong> are coming to Cairo this month:<\/strong> The global VC group will be in town for a series of networking events taking place on 13-15 February. The visit will kick off with an evening at the pyramids co-hosted by EFG Hermes, Swvl, Marakez and Vezeeta that will bring together a number of local and regional investors, businesspeople and media figures. AI startup and recent <a href=\"https:\/\/enterprise.press\/podcast\/\">Making It<\/a> guests Elves (who, it turns out, are Enterprise\u2019s near-neighbours) will then host a BBQ on 14 February featuring a number of local startups, before AmCham and Endeavour organize a breakfast on the final day of the visit.<\/p>\n<p class='web-image stand-out-borderless' ><a href='http:\/\/somabay.com\/'><img data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/Catamaran-1600px.png?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Global stocks are recouping their coronavirus-induced losses<\/strong>, with the US and major European markets rallying yesterday, <a href=\"https:\/\/www.wsj.com\/articles\/global-stocks-rally-as-virus-uncertainty-ebbs-11580899954?mod=hp_lead_pos4\">according to the Wall Street Journal<\/a>. The Dow Jones Industrial Average rose 1.7%, while the Nasdaq and S&P 500 each hit new record highs by the end of trading. The rally began earlier this week, when the Chinese central bank\u2019s anticipated liquidity injection in the local banking system began assuaging investor concerns over the extent of disruption to global growth from the coronavirus outbreak, <a href=\"https:\/\/www.wsj.com\/articles\/global-stocks-rise-as-investors-bet-on-economic-resilience-11580811800?mod=article_inline\">the journal said<\/a>. Investors also began offloading safe haven assets such as gold, particularly as a rising USD makes the commodity more expensive to overseas investors.<\/p>\n<p><strong>The coronavirus will hit oil demand growth by around 300k bbl\/d this year<\/strong> according to current estimates, Apicorp Chief Economist Leila Benali wrote in a report. The multilateral development organization forecasts oil prices to trade between USD 55-65 after the second quarter as OPEC+ supply cuts, trade friction and other factors play out. You can find Apicorp\u2019s press statement accompanying the report <a href=\"https:\/\/ent.news\/2020\/2\/200204_APICORP_Chief-Economist-Top-Picks-for-2020_ENG_FINAL-1.pdf\">here (pdf)<\/a>.<\/p>\n<p><strong>Domestic oil demand is also expected to tumble in China<\/strong>, with energy execs anticipating consumption within the country to plunge by as much as 25%, <a href=\"https:\/\/www.ft.com\/content\/6a108d2a-4830-11ea-aee2-9ddbdc86190d\">the Financial Times says<\/a>. The weak domestic demand will likely worsen the situation for the global oil market, which Opec+ is still scrambling to address after Russia rejected additional output cuts to shore up prices, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-05\/opec-technocrats-prolong-talks-as-russia-resists-cuts?srnd=premium-middle-east\">according to Bloomberg<\/a>.<\/p>\n<p><strong>A total of 490 people have died from the outbreak<\/strong> and there are more than 24k confirmed cases, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-04\/china-will-soon-find-out-if-mass-quarantine-worked-virus-update?srnd=premium-middle-east&sref=mmeFTDW1\">according to Bloomberg<\/a>.<\/p>\n<p><strong>Meanwhile, Beijing is still tending to its ongoing fight for economic supremacy against Washington<\/strong>, which isn\u2019t over just because the two signed a preliminary trade agreement, chief economist at Enodo Economics in Longon Diana Choyleva argues <a href=\"https:\/\/www.ft.com\/content\/59febbd8-46d6-11ea-aeb3-955839e06441\">in the Financial Times<\/a>. Choyleva postulates that technology, not trade, will be the real battle arena, which became particularly evident with the US\u2019 crackdown on Huawei. To that end, the White House is working with US tech companies to develop infrastructure and software for 5G telecom networks to undercut Huawei, US President Donald Trump\u2019s chief economic advisor Larry Kudlow <a href=\"https:\/\/www.wsj.com\/articles\/u-s-pushing-effort-to-develop-5g-alternative-to-huawei-11580831592?mod=hp_lead_pos7\">told the Wall Street Journal<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Saudi\u2019s first post-Aramco IPO is kicking off:<\/strong> Dr. Sulaiman Al Habib Medical Group, one of Saudi Arabia\u2019s largest private healthcare operators, is set to begin the bookbuilding process for its planned IPO next Monday, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-05\/saudi-healthcare-firm-sulaiman-al-habib-s-ipo-to-start-next-week?srnd=premium-middle-east\">Bloomberg reports<\/a>. The offering will see the company sell a 15% stake of its share capital. The shares will be priced on 20 February. Our friends at EFG Hermes are bookrunners, alongside Jadwa Investment and Riyad Capital. Jadwa and Riyad are also acting as financial advisers on the listing, which will act as a litmus test for investor appetite after Aramco raised more than USD 29 bn last December in the world\u2019s biggest-ever IPO.<\/p>\n<p><strong>Intercontinental Exchange bids for eBay:<\/strong> The holding company that operates the New York Stock Exchange has submitted a takeover offer for eBay that would raise the value of the online marketplace to over USD 30 bn, <a href=\"https:\/\/www.wsj.com\/articles\/intercontinental-exchange-approaches-ebay-about-a-takeover-11580845016?mod=hp_lead_pos1\">the Wall Street Journal reports<\/a>. The company, known as ICE, is not really known for acquiring consumer goods companies but has a reputation for buying underperforming trading platforms and turning profits. ICE\u2019s shares initially tumbled on the news but closed up 0.31%, while eBay\u2019s dipped 0.76%.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Tesla helps buoy EM sell-off:<\/strong> The meteoric rise of Tesla shares since the beginning of the year is helping fend off the worst of the coronavirus stock tumble in emerging markets that saw the MSCI Emerging Markets Index drop 4.7% since 17 January, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-05\/tesla-s-surge-limits-virus-triggered-sell-off-in-emerging-stocks?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg reports<\/a>. EV components manufacturers like LG Chem, Samsung SDI, Jiangnan Mould and CATL have largely bucked the trend thanks to Tesla\u2019s performance.<\/p>\n<p><strong>The IMF thinks implementing a carbon tax is the \u201cbest way forward\u201d to fight climate<\/strong><strong> change<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-05\/imf-chief-pushes-carbon-tax-in-the-fight-against-climate-change?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg reports<\/a>. Governments putting a price on carbon \u201cwill encourage households and firms to use less energy and shift to cleaner fuels,\u201d Managing Director Kristalina Georgieva said in an address at Vatican City on Wednesday.<\/p>\n<p><strong>UN Security Council members have drafted a resolution denouncing US President<\/strong><strong> Donald Trump\u2019s Middle East peace plan<\/strong>, saying the proposed Israeli annexation of settlements in the West Bank would be a breach of international law, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-05\/trump-peace-plan-faces-rebuke-in-draft-un-resolution\">Bloomberg reports<\/a>. The resolution, circulated by Tunisia and Indonesia, will likely face a US veto.<\/p>\n<p><strong>PSA- There\u2019s a chance of dusty wind and rainfall this weekend<\/strong>, says <a href=\"https:\/\/748329f5-b7f2-4dbf-b63f-80b1cf4aa453.filesusr.com\/ugd\/dca9dc_b0738cfc56d94303b5ac4369b575bdef.pdf\">the Egyptian<\/a><a href=\"https:\/\/748329f5-b7f2-4dbf-b63f-80b1cf4aa453.filesusr.com\/ugd\/dca9dc_b0738cfc56d94303b5ac4369b575bdef.pdf\">Meteorological Authority (pdf)<\/a>. Look for daytime highs of 22\u00b0C and overnight lows of 16\u00b0C.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The business community will be watching closely in the days ahead as regulators raise questions about two transactions that count among the largest M&#038;As ever attempted in Egypt. The Financial Regulatory Authority has apparently required STC to make a tender offer for 100% of Vodafone Egypt. The requirement was triggered after the Saudi network operator [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[97,116,214,984,72,2230,7128,132,117,7263],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568882","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-agriculture","tag-china","tag-cit","tag-donald-trump","tag-enterpriseam","tag-huawei","tag-ma-watch","tag-trade","tag-us","tag-war","wpautop","entry"],"acf":{"mongo_id":"ecc02ff7-d619-4956-8e0a-48d7aa229593","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[568880],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What we\u2019re tracking on 6 February 2020 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What we\u2019re tracking on 6 February 2020\" \/>\n<meta property=\"og:description\" content=\"The business community will be watching closely in the days ahead as regulators raise questions about two transactions that count among the largest M&amp;As ever attempted in Egypt. The Financial Regulatory Authority has apparently required STC to make a tender offer for 100% of Vodafone Egypt. The requirement was triggered after the Saudi network operator [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-06T04:23:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ent.news\/2020\/2\/Catamaran-1600px.png\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"What we\u2019re tracking on 6 February 2020\",\"datePublished\":\"2020-02-06T04:23:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/\"},\"wordCount\":1281,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ent.news\/2020\/2\/Catamaran-1600px.png\",\"keywords\":[\"agriculture\",\"China\",\"CIT\",\"Donald Trump\",\"EnterpriseAM\",\"Huawei\",\"M&amp;A Watch\",\"trade\",\"US\",\"war\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/what-were-tracking-on-6-february-2020\/\",\"name\":\"What we\u2019re tracking on 6 February 2020 - 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The Financial Regulatory Authority has apparently required STC to make a tender offer for 100% of Vodafone Egypt. 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MNOs want the NTRA to allow them to raise prices for\u2026","rel":"","context":"In &quot;What We\u2019re Tracking This Week&quot;","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569739,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/05\/stc-begins-vodafone-egypt-due-diligence\/","url_meta":{"origin":568882,"position":2},"title":"STC begins Vodafone Egypt due diligence","author":"enterpriseam admin","date":"5 March 2020","format":false,"excerpt":"M&A WATCH- STC begins Vodafone Egypt due diligence: Saudi Telecom (STC) has begun doing due diligence on Vodafone Egypt ahead of a possible USD 2.4 bn acquisition of Vodafone Group\u2019s 55% stake in the company, unnamed sources told Youm7. The Saudi firm signed a MoU with Vodafone Group at the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634134,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/08\/what-were-tracking-this-week-68\/","url_meta":{"origin":568882,"position":3},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"8 January 2018","format":false,"excerpt":"The central bank will auction off USD 850 mn in one-year USD-denominated treasury billstomorrow. The auction will be marketed to local and foreign institutions, Reuters notes.MNOs move to petition NTRA\u2019s cap on SIM card sales: Execs from Vodafone Egypt, Orange Egypt, and Etisalat Misr are expected to meet this week\u2026","rel":"","context":"In &quot;What We\u2019re Tracking This Week&quot;","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628543,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/07\/vodafone-egypt-in-talks-with-ntra-to-invest-in-extending-fiber-optics-infrastructure\/","url_meta":{"origin":568882,"position":4},"title":"Vodafone Egypt in talks with NTRA to invest in extending fiber optics infrastructure","author":"enterpriseam admin","date":"7 May 2018","format":false,"excerpt":"Vodafone Egypt is in talks with the National Telecommunications Regulatory Authority (NTRA) to allow the company to grow its landline and fiber optics infrastructure, CEO Alexandre Froment said, Al Masry Al Youm reports. State-owned landline monopoly Telecom Egypt is currently carrying out this infrastructure development alone, the newspaper notes.","rel":"","context":"In &quot;Telecoms + ICT&quot;","block_context":{"text":"Telecoms + ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":674103,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/23\/vodafone-egypt-is-the-gems-exclusive-technology-partner-ahead-of-its-opening\/","url_meta":{"origin":568882,"position":5},"title":"Vodafone Egypt is the GEM\u2019s exclusive technology partner ahead of its opening","author":"enterpriseam admin","date":"23 October 2025","format":false,"excerpt":"The Grand Egyptian Museum (GEM) is poised to become one of the world's smartest cultural institutions through a landmark exclusive technological partnership with Vodafone Egypt. 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