Qatar reportedly eyes Vodafone Egypt

Qatar reportedly eyes Vodafone Egypt

Qatar’s sovereign wealth fund is reportedly still in the mix to acquire Vodafone Egypt shares from Telecom Egypt Egypt, with a deal potentially to be announced this month, reported Daily News Egypt. 

The newspaper cited anonymous sources that claimed the Qatar Investment Authority (QIA) intends to acquire the whole 45% stake Telecom Egypt holds in Vodafone. But the Egyptian government harbours concerns over the state-owned operator’s divestment of shares in its rival but did not disclose further detail. 

The sources said if conditions are met, then an initial deal closure could occur before June 30. They also speculated the QIA could swoop in for the rest of the shares (55%) held by Vodacom Group.

South Africa-based Vodacom hailed its acquisition of Vodafone Egypt shares for an immediate lift in revenues

We reported last year the QIA was discussing with the Egyptian government in regards to acquiring around US$2.5 billion of state holdings in various companies, including Vodafone Egypt.

 

 

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE twice-weekly email newsletters for the latest telecom info in developing and emerging markets globally.
I agree with the Terms and conditions and the Privacy policy
By accepting occasional e-mails from our partners, inviting you to download articles, white papers and attend events, you are helping fund free access to this valuable news service for emerging markets.