Telecom Egypt considers acquiring all Vodafone Egypt shares

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Mon, 2020-09-14 23:09

CAIRO: Telecom Egypt is considering acquiring all shares in Vodafone Egypt, according to a media report citing sources close to a potential deal involving Saudi Telecom Company (STC) buying a 55 percent stake in Vodafone’s Egyptian unit.

Telecom Egypt has a 45 percent stake in Vodafone Egypt.

Vodafone Global signed a memorandum of understanding with STC on Jan. 29 regarding the possible sale of the stake to STC for $2.4 billion.

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