CAIRO
Talks between Egypt and Istanbul bourses would resume soon to create a joint index that combines 30 listed companies, Mohamed Omran, the chairman of the Egyptian Stock Exchange (EGX), confirmed Wednesday.
"We will resume talks with Borsa Istanbul (BIST) administration after Eid al-Fitr holiday," Omran told Anadolu Agency.
"The political changes that Egypt has seen recently caused a halt to the linking steps, something which we regret," he added.
EGX and Borsa Istanbul signed in September a deal, under which a joint index that combines 30 companies listed in each bourse would be formed.
The alliance should have been effective starting September 19. However, talks between the two sides were halted due to the political crisis in Egypt.
"We will discuss with Borsa Istanbul if both sides are ready to go ahead into the alliance In accordance with the agreed-upon time table," Omran said.
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