Telecom Egypt Defers Vodafone Sale Decision for Two Years
Published on: 10th Mar 2014
By: Ian Mansfield
Telecom Egypt has said that it has no short term intention of selling its 45% stake in Vodafone Egypt for at least the next two years.
The company said in a stock exchange statement that if a 4G license is awarded, which it expects to happen in about two years time, then it will review the situation.
There had been mounting expectation that it might have to sell its stake in the mobile network when it is granted its own MVNO license.
Telecom Egypt pointedly noted that the options while including the obvious sale of its stake in the local Vodafone operations, it could also seek to buy Vodafone out as well.