Elsewedy buys 60% of Thomassen as EGX 30 slips 0.68%

The EGX 30 closed at 54,994.3, down 0.6812% on September 21. Elsewedy Electric acquired a 60% stake in Thomassen Service, while the group also opened a China office to expand industrial partnerships, according to IndexBox and ZAWYA. Telecom Egypt signed agreements with Etisalat worth $912.5 million, Arab News reported. Orascom Construction won $200 million of contracts in Egypt and Algeria, according to Arab News.