Telecom Egypt comments on stc-Vodafone deal reports

Vodafone ended talks with stc on the sale deal in December 2020

  
The logo of Telecom Egypt is seen on a building in Cairo, Egypt September 12, 2017.

The logo of Telecom Egypt is seen on a building in Cairo, Egypt September 12, 2017.

REUTERS/Amr Abdallah Dals
Cairo – Telecom Egypt commented on news reports stating that the Saudi Telecom Company (stc) is seeking to secure a loan worth $1.1 billion to finance the acquisition of Vodafone Egypt.

The Egyptian telecom operator said that it has not been informed of any details regarding the matter, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

In December 2020, Vodafone ended talks with stc on the $2.4 billion sale deal of its 55% shareholding in Vodafone Egypt after a series of missed deadlines to complete the deal.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Technology