Rumours emerged earlier this month claiming STC was seeking to negotiate a price cut on the original deal. After being pushed back twice due to issues around Covid-19 (coronavirus), the agreement finally expired last week. Vodafone Group and STC signed a memorandum of understanding for the $2.4 billion stake sale in January, with an expected closing date of end-June. “The inference that Telecom Egypt has a role to play in assisting Vodafone Group and STC to conclude a transaction is unclear and without foundation.” A 0.13 per cent stake is held by other investors.įollowing Vodafone’s comment noting its major partner had a part to play in helping close the deal, Telecom Egypt said it was yet to receive a proposal from either party and had no insight into any terms being discussed. It holds a 55 per cent stake in the operator, with state-owned Telecom Egypt owning 45 per cent. The purchase and activation of the mobile top-up will be done in just a few seconds: Enter the country and the phone number that you would like to top up Choose the Vodafone gypte mobile top-up that you would like Pay on our secure site All good The recipient's mobile will be credited in one of the following ways, depending on the top-up. Vodafone Group said due diligence on the sale had been “substantively completed” with the hope the transaction would go ahead in the near future: “Vodafone now looks to STC and Telecom Egypt to find a suitable agreement to enable the transaction to close.”
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