Vodafone Egypt denied the existence of any acquisition talks between Vodafone International and the Saudi Telecom Company (STC) and the sale of Vodafone's global stake in Vodafone Egypt.
The company affirmed in a statement yesterday, Wednesday, its commitment to the Egyptian market and work to provide an outstanding service to its customers.
It indicated that it had recently acquired a new frequency package to improve the service, and many investments were made in the field of network, digital transformation, and a number of financial inclusion projects in Egypt.
Ayman Essam, Head of External and Legal Relations at Vodafone Egypt, told Al Borsa newspaper that his company has not held any ongoing talks in this regard.
The (CNBC Arabia) channel yesterday morning quoted unnamed banking sources as saying that (STC) is looking to secure a soft loan of about 1.1 billion to finance the deal. .
The channel said that the Saudi company intends to finance the deal with part of the liquidity available to it, and another part from the global debt markets, at a time when financing costs have fallen significantly; due to low global interest.
