WORLD HISTORY

Detailed explanation-1: -In the end, Egypt emerged victorious, and the British, French and Israeli governments withdrew their troops in late 1956 and early 1957. The event was a pivotal event among Cold War superpowers.

Detailed explanation-2: -The Suez Canal was financed by the Suez Canal Company, a joint-stock company headquartered in Paris. At the time of its founding, France had 52 percent of shares and Egypt held 44 percent. By 1875, Egypt’s shares had been sold to Great Britain, which assisted in the canal’s administration.

Detailed explanation-3: -On July 26, 1956, Egyptian President Gamal Abdel Nasser announced the nationalization of the Suez Canal Company, the joint British-French enterprise which had owned and operated the Suez Canal since its construction in 1869.

Detailed explanation-4: -By December 1875 Britain became the largest shareholder of the Suez Canal Company, owning 44 percent of the shares. However, the remaining 56% of the company’s shares remained under the ownership of French shareholders.

Detailed explanation-5: -The construction of the Suez Canal in Egypt left the country in significant debt and subject to foreign financial support. Yes, this is true. The Suez Canal was built between 1859 and 1869, with funds borrowed from European banks and investors.