Naguib Sawiris calls it quits on Africanews trial
Following its defeat in court by Sipromad, the broadcaster Euronews has in the end decided not to appeal in an attempt to hold on to the one million euro deposit that the company paid in 2019.
The London listing that Africa's largest gold producer is seeking shareholder approval for on 25 May will involve a new financial set-up. The group led by Sébastien de Montessus has already created a new holding company in London that is expected to absorb its current parent company in the Cayman Islands if the London listing goes ahead.
Olivier Colom, closely linked to Egyptian tycoon Naguib Sawiris, who placed him on the board of Endeavour Mining and then at Euronews, previously worked in the diplomatic unit of the Elysée Palace under Nicolas Sarkozy.
Gold producer Golden Star, which was struggling a few months ago with a low share price and legal action by disgruntled shareholders, has settled all its problems in the space of two weeks. A profitable outcome for its main shareholder, Egyptian billionaire Naguib Sawiris.
Egyptian billionaire Naguib Sawiris's firm La Mancha is considering whether to increase or decrease its investment in the operator of two Ghanaian gold mines, Golden Star Resources, with the threat of a class action in the US hanging over the mining company.