The Egyptian government said Tuesday that it had inked a series of deals to sell off $1.9 billion worth of stakes in state-owned companies, in a move that promises to bolster Egypt's ailing private sector.
Prime Minister Mostafa Madbouly said in a televised news conference that the government received $1.65 billion and the equivalent of $250 million in Egyptian pounds in the sales. Madbouly said the sales included an unspecified amount of shares in the country's large state-owned communications company, Telecom Egypt.
