We reported last month that the Qatar Investment Authority (QIA) appeared intent on acquiring Telecom Egypt’s entire 45% stake in Vodafone Egypt, and reports now indicate that the deal could be finalised by September this year.
Daily News Egypt quoted anonymous sources as claiming that a deal was almost finalised last month, as the parties involved had already on a valuation for Vodafone Egypt. It has emerged that the delay came about as the Egyptian government – Telecom Egypt’s majority shareholder – is reluctant for the operator to divest more than a 25% shareholding.
Despite this appearing irreconcilable with QIA’s continued push to acquire the full 45%, talks are ongoing and a deal is expected, with the news outlet naming end-September 2023 as the likely implementation date.
