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English news

04-Sep-2016

Vodafone Group considers buying out Telecom Egypt’s (TE) 45% stake in Vodafone Egypt (VFE); TE could consider floating VFE’s shares

Vodafone Group (VFG) is considering several options for Telecom Egypt’s (TE) [ETEL.CA] 45% stake in Vodafone Egypt (VFE), including buying it out, according to the Telegraph. TE could also consider floating its 45% stake on the stock exchange if the offer made by VFG is unattractive, according to unnamed sources. This all comes following the introduction of TE into the mobile market which has raised fears at VFG over the governance of VFE. (The Telegraph)   Telecom Egypt: EGP10.02 as of 01 September 2016, Rating: Neutral, FV: EGP10.25 per share, MCap: USD1,926mn, ETEL EY / ETEL.CA

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