M1 buyout rumor of Aishti untrue

Both companies deny holding M&A talks

Rumors of a buyout deal between M1, the holding company of the Mikati family and the Tony Salameh Group (TSG), owner of Aishti, is false, according to officials at both companies. Tony Salameh, Chairman of TSG, said that his company is a client of Faconnable, a brand owned by M1, but that is “the extent of the relationship,” he said. “We have never held even one single meeting on this subject,” said a high-ranking official of M1, “not even an exploratory one,” he said. The M1 official said that the rumor started six months ago and kept on growing.