Egyptian Media Production City chief refutes reports of PIF investment into the company

Asharq also reported that two unnamed sources revealed that the PIF did not express any interest in acquiring stakes of the Egyptian company.

RIYADH: The chairman of the Egyptian Media Production City Co. on Sunday refuted reports claiming Saudi Arabia’s Public Investment Fund was mulling investing in the company.
“There are no negotiations, either from near or far, about selling a share of the Egyptian Media Production City Co. to the Saudi sovereign fund,” Abdel Fattah Al-Jabali told Asharq.
Asharq also reported that two unnamed sources revealed that the PIF did not express any interest in acquiring stakes of the Egyptian company.
PIF, earlier this month launched, the Saudi Egyptian Investment Co. to invest in a wide range of sectors across the North African country.