( 2 minutes read)
- Vodafone-Egypt scotched any acquisition talks between Vodafone International and STC and the sale of its shares in Vodafone Egypt
- The company recently obtained a new frequency package to improve the services in Egypt
- Apart from that, the telecom company made many investments in the field of network, digital transformation and a number of financial inclusion projects in Egypt.
Vodafone-Egypt scotched any acquisition talks between Vodafone International and STC and the sale of its shares in Vodafone Egypt.
The company recently obtained a new frequency package to improve the services in Egypt. Apart from that, the telecom company made many investments in the field of network, digital transformation and a number of financial inclusion projects in Egypt. Vodafone Egypt has invested more than LE 12 billion during the past three years. This was mostly to develop the infrastructure and keep pace with the launch of fourth generation services and for purchasing frequencies.
Telecom Egypt owns 44.95 percent of Vodafone Egypt. STC, in the event of the transaction being completed, should make a mandatory offer to acquire all Vodafone Egypt shares, including the stake owned by Telecom Egypt.
