Egyptian billionaire Samih Sawiris plans to acquire the German "FTI" tourism group, the third largest tourist company in Europe, according to a report of the German newspaper "Welt" released on Monday. According to the report, the German Competition Protection Authority was informed of plans to fully acquire the group.

The report indicated that Sawiris had a stake in the group six years ago and currently owns 33% of its shares.
In response to an inquiry from the newspaper, the group stated that "Sawiris has not made any acquisitions (of the group) until the present moment," adding that if any change in the proportion of shares takes place, the group will announce it.

The tourism sector has been hit hard by the Corona pandemic, with air travel almost completely stopped around the world after extensive travel restrictions to control the pandemic.
The German "FTI" group, with its profits that recently amounted to 4.2 billion euros, and the number of its workers, which reaches 12 thousand employees, is the third largest tourist group in Europe after the German "TOY" and "German monastery" Touristic ".

Dietmar Günz, 60, a businessman who grew up in Austria, owns the majority of FTI’s shares so far.
The Egyptian billionaire Sawiris (63 years) is considered a pivotal figure in the German tourism market, as Sawiris operates in seven countries through the Orascom Group, which is based in Switzerland. Places, as well as luxury hotels in Switzerland.