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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