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FINANCIAL NEWS
Telecom Egypt mulls increasing Vodafone stake
25 May 2010
(MENAFN) Telecom Egypt is mulling said a plan to increase its share in the Egyptian mobile-phone unit of Vodafone Group, Bloomberg reported.
The company’s chief executive officer Tarek Al Tantawy said Telecom Egypt is also studying bidding for the country’s fourth mobile-phone licence if the government offers such a licence.
Vodafone Group is in talks to sell its 55 per cent stake in Vodafone Egypt Telecommunications, a person familiar with the matter said on Friday.
Analysts put the value of the stake at about 3 billion pounds.
Telecom Egypt already owns 45 per cent of Egypt’s second-largest mobile phone operator
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