Deutsche Bank cuts Mobinil’s target price to EGP 101, ups rating to Buy

Deutsche Bank slashed the strike price of Egyptian Company for Mobile Services (Mobinil) from EGP 128 to EGP 101; representing 4% upside potential to its market price of EGP 97. It also upgraded its recommendation to Buy. This valuation was based on expectations that Orascom Telecom Holding (OTH) may sell its 34.6% stake in the telco to France Telecom (FT) at a predetermined price of EGP 222-249 in 2012-2013.