Orascom Telecom Versus France Telecom : A Case Study on Egyptian Takeover Law

The Egyptian government has recently regulated takeovers due to their importance. The regulation, which adopts the European approach in takeovers, took place through secondary statutes. The new regulations, however, are flawed and inefficient. The Egyptian takeover regulations generally discourage takeovers by empowering incumbent controllers and provide weak protections for minority shareholders. The facts of the Mobinil case, the most recent takeover case in Egypt, support these findings. This study shows, however, that adopting certain amendments can enhance the Egyptian takeover regulations