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STC, Vodafone UK are still in talks for Vodafone Egypt stakes
Nayera Eid Published in Amwal Al Ghad on 09 - 11 - 2020

Saudi Telecom Company (STC) and Vodafone UK are still in talks for the former to purchase the stakes of Vodafone Egypt, according to Vodafone Egypt CEO Mohamed Abdallah.
He added during a press conference that local management of the company is not involved in the mother company's negotiations with STC, it is rather concerned with improving the efficiency of services provided to the costumers.
He also noted that the company pumped 65 billion Egyptian pounds investments into Egypt since its inception in, adding that the company had invested approximately 13 billion pounds over the last three years.
Vodafone Egypt invested 5 billion pounds into the Egyptian market during 2020, he added.
STC has long been interested in getting a piece of Vodafone Egypt. Reports way back in 2013 alleged that the Saudi firm was eyeing up the 45% stake owned by state-owned landline monopoly Telecom Egypt.

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