Tuesday, June 2, 2009

Orascom Telecom, Rojhan Capital Interested in RBS Pakistan Unit

Royal Bank of Scotland Group Plc said Egypt's Orascom Telecom Holding SAE and Rojhan Capital are interested in buying its Pakistan unit.

Orascom has been given permission by Pakistan's central bank to conduct due diligence, RBS Pakistan said in a statement to the Karachi Stock Exchange today.

Orasom joins Habib Bank Ltd., Pakistan's second-biggest by assets, MCB Bank Ltd., the biggest by market value, and JS Group in competing for the business. The bank's Pakistan unit formerly belonged to ABN Amro Holding NV.

RBS Pakistan shares rose 8 percent to 13.48 rupees as of 12:30 p.m. on the Karachi Stock Exchange.

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