Riyadh – Saudi Telecom Company (stc) is in talks to reduce its non-binding $2.39 billion offer for a 55% stake in Vodafone Egypt, Bloomberg reported citing two people with direct knowledge of the matter.
The discussions come as a deadline nears for stc to move ahead with the non-binding offer first made in January.
Last July, the Saudi company extended the memorandum of understanding (MoU) signed with Vodafone Group for 60 days due to the impact of the coronavirus pandemic.
STC had said that the offer gives the Egyptian business an enterprise value of $4.35 billion.
Source: Mubasher
All Rights Reserved - Mubasher Info © 2005 - 2020 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.
