Last updated: Sunday January 26, 2020 KSA 13:57 – GMT 10:57
Posted on: Sunday January 26, 2020 KSA 13:37 – GMT 10:37
Source: Dubai – Arabic.net
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STC has not yet released an official response to the rumors about negotiations to buy stakes in Vodafone Egypt
It was reported, quoting sources, that negotiations were being conducted by STC with Vodafone International to buy its stake in the company’s branch in Egypt, which amounts to about 55% of the company’s shares.
In Sunday’s trading, the share of Saudi Telecom fell 0.32% to 92.9 riyals.
Telecom Egypt owns 45% of Vodafone Egypt, while the rest owns Vodafone International.
In a statement published today on the Egyptian Stock Exchange website, Telecom Egypt said it had not received any offers or communications regarding the sale of its stake in Vodafone Egypt at the present time.
She added that she has no intention of disposing of her stake in Vodafone Egypt.
The statement of the Egyptian Telecom Company came after the stock exchange management stopped trading on it after its rise on Thursday, supported by news of the discussions of stc’s acquisition of Vodafone Egypt.
Media outlets, quoting sources in the telecom sector, have not yet had official discussions regarding STC’s purchase of stakes in Vodafone Egypt.
For his part, a senior Vodafone Egypt official said in response to the matter “There is no comment on the part of” Vodafone Egypt, and that his company is concerned with managing the company in Egypt.
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