Rumors have spread that Commercial Bank of Kuwait is planning a takeover bid to take Egyptian Gulf Bank. The information comes at a time when investments in North Africa are expected to continue their remarable returns.
Although it seems that CBK is in the news daily in talks about expansion, its just that investors are betting when and where it will be. The National Bank of Kuwait is taking over the Alwatany Bank of Egypt plus the large share for the Kuwaiti side in the Arab African Internationl Bank.
CBK shares have remained unchanged by the news, investors seem to be awaiting official statements.
haven’t these rumors been around for a while ?