{"id":645787,"date":"2017-07-30T03:55:22","date_gmt":"2017-07-30T03:55:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/national-media-authority-objects-to-nibs-purchase-of-nilesat\/"},"modified":"2017-07-30T03:55:22","modified_gmt":"2017-07-30T03:55:22","slug":"national-media-authority-objects-to-nibs-purchase-of-nilesat","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/national-media-authority-objects-to-nibs-purchase-of-nilesat\/","title":{"rendered":"National Media Authority objects to NIB\u2019s purchase of Nilesat"},"content":{"rendered":"

The National Media Authority objected to the government-owned National Investment Bank\u2019s (NIB) offer to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), as NIB is indebted to the Egyptian Radio and Television Union, authority head Hussein Zein tells Al Masry Al Youm<\/a>. NIB\u2019s debts have reached EGP 28 bn on the back of an initial EGP 8 bn loan from the former Media Ministry, claims Zein. The Egyptian Financial Supervisory Authority had exempted the bank from presenting<\/a> a mandatory tender offer last week. NIB already owns 10% of the company; other shareholders include Egyptian Investment Projects at 8.8%, the National Bank of Egypt at 7.5%, and Banque Misr at 7.5%<\/p>\n","protected":false},"excerpt":{"rendered":"

The National Media Authority objected to the government-owned National Investment Bank\u2019s (NIB) offer to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), as NIB is indebted to the Egyptian Radio and Television Union, authority head Hussein Zein tells Al Masry Al Youm. NIB\u2019s debts have reached EGP 28 bn on the back of […]<\/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":[9315],"tags":[72,2390],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-645787","post","type-post","status-publish","format-standard","hentry","category-other-business-news-of-note","tag-enterpriseam","tag-other-business-news-of-note","wpautop","entry"],"acf":{"mongo_id":"b5676b42-2c28-4a08-a0de-5efa22db696a","order":"0","is_powered_by":true,"section_story_id":"a0537d58-648b-4815-84ef-b803dc550211","story_type":"1","photo_url":"","photo_position":"above","related_issue":[645742],"teaser":"","voice_url":""},"yoast_head":"\nNational Media Authority objects to NIB\u2019s purchase of Nilesat - 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\/2017\/07\/30\/national-media-authority-objects-to-nibs-purchase-of-nilesat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Media Authority objects to NIB\u2019s purchase of Nilesat\" \/>\n<meta property=\"og:description\" content=\"The National Media Authority objected to the government-owned National Investment Bank\u2019s (NIB) offer to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), as NIB is indebted to the Egyptian Radio and Television Union, authority head Hussein Zein tells Al Masry Al Youm. 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NIB\u2019s decision followed The National Media Authority (NMA)\u2019s objection to the transaction last month. Source say NIB had acted unilaterally on\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637377,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/14\/nib-sues-ertu-over-egp-886-mn-loan\/","url_meta":{"origin":645787,"position":1},"title":"NIB sues ERTU over EGP 886 mn loan","author":"enterpriseam admin","date":"14 November 2017","format":false,"excerpt":"The National Investment Bank (NIB) filed a lawsuit against the Egyptian Radio and Television Union (ERTU) in a Cairo Economic Court for the latter to repay a EGP 886 mn loan and additional penalties of 16% of the loan, Al Borsa reports. 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