Egyptian billionaire Naguib Sawiris has offered up to €5B ($6.4B) to acquire a stake in...

|By:, SA News Editor

Egyptian billionaire Naguib Sawiris has offered up to €5B ($6.4B) to acquire a stake in debt-laden Telecom Italia (TI), which has a market cap of €13.3B, Corriere della Sera reports. “Sawiris knows the Italian telecoms market very well, as he’s owned Wind for many years,” says Milan fund manager Alessandro Frigeri.