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Vodafone may ink MoU with Saudi Telecom
2020-01-31
The Egyptian cabinet in a statement said that Vodafone Group will sign a Memorandum of Understanding (MoU) with Saudi Telecom for the possible sale of a stake in Vodafone Egypt.
The announcement came after a visit to Egypt by Vodafone CEO Nick Read. Vodafone Group holds a 55% stake in Vodafone Egypt, with the remaining 45% held by Telecom Egypt.
Telecom Egypt has cleared that there is no intension of selling its stake.
Both the companies did not commented on the government statement, which gave no details or valuation for a possible stake sale.
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