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Saudi Arabia, Kuwait, and the United Arab Emirates have committed around USD14bn in cash grants, five-year interest-free deposits and grants of oil products to Egypt since the overthrow of President Morsi in July. By end-September USD7bn of these commitments had been disbursed, boosting Egypt's FX reserves to USD18.9bn, from just over USD14bn at the time of the coup. These grants have enabled Egypt to repay more expensive loans from Qatar made during the Morsi administration.
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The No. 2 U.S. carrier is offering $15 a share in cash - an88 percent premium to Leap's Friday close of $7.98 - to seal thelatest of a wave of acquisitions to emerge from a telecomssector struggling to expand network capacity, as use ofbandwidth-hungry smartphones and tablets explodes.