Suez Canal Company Suez Canal Company The Universal Maritime Suez Canal Company (, or simply "Compagnie de Suez" for short) was the corporation that constructed the Suez Canal between 1859 and 1869 and operated it until the 1956 Suez Crisis. It was formed by Ferdinand de Lesseps in 1858, and it owned and operated the canal for many years thereafter. Initially, French private investors were the majority of the shareholders, with Egypt also having a significant stake. When Isma'il Pasha became Wāli of Egypt and Sudan in 1863, he refused to adhere to portions of the concessions to the Canal company made by
Suez Crisis blockaded the Gulf of Aqaba, in contravention of the Constantinople Convention of 1888. Many argued that this was also a violation of the 1949 Armistice Agreements. According to the Egyptian historian Abd al-Azim Ramadan, the events leading up to the nationalization of the Suez Canal Company, as well as other events during Nasser's rule, showed Nasser to be far from a rational, responsible leader. Ramadan notes Nasser's decision to nationalize the Suez Canal without political consultation as an example of his predilection for solitary decision-making. The nationalisation surprised Britain and its Commonwealth. There had been no discussion of the canal