Telecom Egypt is considering forming an alliance with local and foreign banks to acquire Vodafone's global stake of 55% in Vodafone Egypt.
According to Arabiya Net, the options offered include the participation of more than one bank with shares in the full acquisition of Vodafone's unit, or obtaining bank financing.
Sources in the company stated that Telecom Egypt is studying several alternatives, including the possibility of integrating Vodafone's network with its WE network, knowing that it currently owns a 45% share of Vodafone Egypt .
The board of directors of Telecom Egypt had approved the appointment of Citibank and Hermes investment bank, to study all available alternatives to deal with its investments in Vodafone Egypt.
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It is mentioned that the memorandum of understanding signed by STC to buy a 55% stake in Vodafone Egypt worth $ 2.39 billion ended last week, without reaching an agreement.
(Amazon fun knowledge)
