CAIRO, Dec 21 - Egyptian mobile operator Mobinil (EMOB.CA) has appointed an independent financial advisor to evaluate France Telecom's (FTE.PA) offer to buy it, the company said on Sunday.
The firm has appointed Prime Capital to submit an evaluation of the offer before Jan. 5, it said in a statement to the stock exchange.
Mobinil will announce the results of the evaluation before Jan. 9, it said.
The Egyptian mobile firm has been at the centre of a long and often acrimonious dispute between its two main shareholders, Orascom Telecom (ORTE.CA) ORTEq.L> and France Telecom.
France Telecom subsidiary Orange Participations is offering 245 Egyptian pounds ($44.54) for each freely traded share in Mobinil. The offer for the shares ends at the close of the trading session on Jan. 14. ($1=5.500 Egyptian Pound) (Reporting by Marwa Awad; Writing by Alexander Dziadosz; Editing by Jon Loades-Carter)