Shabayek leaves Arqaam to join Tele­com Egypt

The Daily Star (Lebanon) - - BUSINESS -

Sarah Shabayek left Arqaam Cap­i­tal’s eq­ui­ties re­search team to join Tele­com Egypt Co. as head of in­vestor re­la­tions. Shabayek started in the new po­si­tion last week, and is based in Cairo, she said.

Tele­com Egypt is the sec­ond­biggest tele­com com­pany traded on the coun­try’ stock ex­change by mar­ket cap­i­tal­iza­tion, val­ued at $1.3 bil­lion, ac­cord­ing to data com­piled by Bloomberg.

The Egyp­tian gov­ern­ment is its main share­holder, with an 80 per­cent stake. Ziad Itani, who is based in Dubai, said he was named head of re­search for tele­com, me­dia and tech­nol­ogy af­ter Shabayek’s de­par­ture.

Un­der his cov­er­age are 17 com­pa­nies in the Mid­dle East and Africa that op­er­ate in over 20 coun­tries.

Itani pre­vi­ously cov­ered sec­tors in­clud­ing real es­tate, con­struc­tion, ce­ment, in­dus­tri­als and con­sumers. – Bloomberg News

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