Bidders were due to submit their offers on 26 November but they will now wait for better market conditions. According to a source close to the privatisation process, the situation will be re-assessed in January.

Meanwhile in Libya, the country’s second bank privatisation is going ahead smoothly. Prequalified banks are carrying out due diligence and bids are due in late January. The Central Bank of Libya prequalified five banks in early November. They are: Arab Bank, Arab Banking Corporation, Societe Generale, Intesa Sanpaolo and Al Tijari Wafa Bank.