Foreign investors may not hold any shareholding stake in a (paper or electronic) newspaper entitling them to the right to manage the newspaper.
"Article 1
In applying the provisions of this law, the following words and phrases shall have the meaning indicated next to each of them: [...]
Press institutions: institutions and publishing and distribution companies that issue paper or electronic newspapers.
[...]
Chapter Three: Press Institutions
Chapter One: Ownership and Establishment of the Press Institution
Article 33
Egyptians, whether natural or legal persons, public or private, have the right to own newspapers or participate in their ownership in accordance with the provisions of this law.
[...]
Article 36
It is not permissible for an individual, family, or legal person to combine ownership of a daily newspaper with a contribution to another daily, and it is not permissible to own a percentage of shares that entitles management in more than one daily newspaper, and this provision applies to electronic newspapers.
It is also not permissible for non-Egyptian shareholders, whether natural or legal persons, to own a percentage of the shares that entitle them to the right of management, and it is not permissible to dispose of the newspaper or part thereof in whole or in part to third parties or merge with or in another institution without obtaining a written consent Advances from the Supreme Council, all in accordance with the conditions it sets. [...]" (Law No. 180 of 2018 on the Organisation of Press, Media and the Supreme Council of Media (27 August 2018), Articles 1, 33 and 36 [google translation])
Law No. 180 of 2018 on the Organisation of Press, Media and the Supreme Council of Media (27 August 2018), Articles 1, 33 and 36
[<a href="https://wipolex.wipo.int/en/text/578755">Law</a>]