Telecom Minister denies rumours on obligation for Telecom Egypt to dispose of its 45% stake in Vodafone Egypt
Telecom Egypt (TE) [ETEL.CA] is not obliged in any way to dispose of its 45% stake in Vodafone Egypt (VFE), according to the Minister of Communications and Information Technology, Yasser Al Kady in a CNBC Arabia interview. However, the company will replace the current board members with representatives from the government who are not affiliated with TE in any way, Al Kady added. (CNBC Arabia interview) Telecom Egypt: EGP10.97 as of 14 Dec, Rating: Neutral, TP: EGP10.25/share, MCap: USD1,002mn, ETEL EY/ETEL.CA
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