CAIRO - Egypt's Beltone Holding is talking to two Algerian investors about setting up an investment bank in Algeria, as it expands its presence in the Arab world, newspaper Al-Mal quoted one of the bank's directors as saying. The bank would provide a full range of services, including portfolio and fund management, securities brokerage and advising on equity sales, the paper said on Thursday, citing Aly el-Tahry. Beltone would have a controlling stake in the new bank. Beltone officials were not immediately available for comment. In November, Beltone set up an investment banking subsidiary in Libya after having received a brokerage licence. Al-Mal quoted Tahry as saying Beltone was also looking into establishing a presence in Kuwait. Once negotiations are completed, Beltone would need several more months to complete government procedures and hopes to have the bank running by the end of the year or in early 2011, Al-Mal reported. Last month, Beltone signed an agreement to complete its planned merger with Cairo-based Pioneers Holding, a transaction it hopes to complete by the end of May.