Telecom Egypt, which cancelled a privatisation led by ABN Amro in 2000, is planning a second attempt to float and has appointed Credit Suisse First Boston and local bank EFG-Hermes to lead the deal. It is set to be Egypt's largest initial public offering to date.

The company, Egypt's national telecoms carrier, is targeting up to $841m (€716m) from the sale and has appointed the two banks as joint global co-ordinators.