Elsewedy drives deal flow as EGX 30 closes up 0.21%

The EGX 30 closed up 0.21% at 54,909.2 on Sept. 15, with Elsewedy Electric dominating the corporate news flow. Elsewedy energized a 50 MW storage asset in Greece and acquired a majority stake in Thomassen Service to strengthen gas turbine capabilities, according to Solarbytes and Zawya, while Utilities Middle East reported an expansion in turbine services. The group also partnered with Vodafone Business and Cassava Technologies to establish a data center, according to TradingView, as Telecom Egypt signed with PSL for a Red Sea-Mediterranean subsea cable, Communications Today reported. In digital infrastructure, EG-IX peaked near 1 Tbps across 18 member networks, tech dot africa reported, while EnterpriseAM said Value8 asked Dutch courts to freeze Orascom Construction’s proposed merger with OCI Global.