The National Telecommunication Regulatory Authority (NTRA) is studying several alternatives for the disposal of Telecom Egypt’s (TE) [ETEL.CA] 45% stake in Vodafone Egypt (VFE) once the 4G licence is acquired. According to a source at the NTRA, a grace period will be given to TE until it launches the 4G service. The Egyptian government (80% shareholder in TE) will seek to retain the 45% stake in VFE but through other state-owned entities. Previously, the government had established a consortium composed of representatives from five ministries to determine the fate of the stake. (Al Borsa)   Telecom Egypt: EGP7.94 as of 22 May 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,526 million, ETEL EY / ETEL.CA