Vodafone: set to sell stake in Vodafone Egypt
(CercleFinance.com) - Vodafone announces the signature of a memorandum of understanding with Saudi Telecom with a view to a potential sale of the British telecom group's 55% stake in Vodafone Egypt to the Saudi group, for 2.
39 billion dollars in cash.
The parties have also agreed to a long-term market partnership, including the use of the Vodafone brand, preferential roaming agreements, as well as access to Vodafone's central supply functions and other services .
Vodafone and STC intend to conclude a definitive agreement after STC's necessary verifications on Vodafone Egypt have been completed. The transaction is expected to be closed around the end of June 2020, subject to regulatory approvals.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
39 billion dollars in cash.
The parties have also agreed to a long-term market partnership, including the use of the Vodafone brand, preferential roaming agreements, as well as access to Vodafone's central supply functions and other services .
Vodafone and STC intend to conclude a definitive agreement after STC's necessary verifications on Vodafone Egypt have been completed. The transaction is expected to be closed around the end of June 2020, subject to regulatory approvals.
Copyright (c) 2020 CercleFinance.com. All rights reserved.