"Telecom Egypt" is back from selling its share in "Vodafone"

Telecom Egypt, the largest telecommunications operator in the country, withdrew the sale of its share in “Vodafone Egypt”, where your cash gain expects from this session in 2024 to 3 billion pounds, according to two people familiar with the file, they talked to ‘Al -Sharq’, provided their names are not published. 4 Celtones for Cellphone Services Work in Egypt, which is ‘Vodafone Egypt’ of the British Vodafone group, ‘Orange Egypt’ of the French ‘Orange’ group, ‘Egypt’ of the UAE ‘Etisalat’, and the ‘Egyptian Telecom’, and ‘Telecom Egypt’. Inappropriate offers said one of the people said that the current Board of Telecom Egypt believes that the share in “Vodafone” earns very good income due to the agreement concluded between the shareholders, after receiving a 2.1 billion pound profits in 2023. In March 2023, Egypt cost financial and legal advisers to investigate the sale of an additional minority interest from “Telecom Egypt” already listed in the market and test the appetite of investors. The government owns 70% of the company, and the rest of the shares are on the Egyptian stock exchange. The Qatar Investment Authority is negotiating with the Government of Egypt to purchase the Egyptian telecommunications share in Vodafone Egypt since September 2022, but no agreement has been reached as a result of the dispute between the two parties on the percentage of the acquisition, as the Qatari -Soversine Fund does not want to get the government. an interest of more than 25% of the business.