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BMCE says not in talks on a share sale

BMCE shares rose 0.6 percent on Tuesday.

September 1, 2010 1:08 by

Moroccan bank BMCE said it was not in talks to sell a stake as part of a plan to raise capital, following reports it was in talks with a Qatari bank.

“Othman Benjelloun, President of FinanceCom Group and (BMCE’s) majority shareholder denies such information,” the bank said on Wednesday. “(He) is keen to affirm that for the time being no discussion … is under way.”

BMCE shares rose 0.6 percent on Tuesday following reports in newspapers in Morocco and Middle East about talks with a Qatari bank, traders said.

(Reporting by Lamine Ghanmi; Editing by Dan Lalor)

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