He is holding on to his diplomatic immunity. Buys him more time (he and his family and friends and other leaders of the old regime) to move funds from Europe and the US to safer countries that are not members of Interpol.
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Livni: Shaked's annexation bill would lead to bi-national state with Palestinian majority in Knesset
from the article: Mubarak hands over power to Egypt VP, but won't step down