UAE, QATAR COMPETE TO BUY SHARES IN EGPYT

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The Egyptian government is deliberating on selling a share of the stake of Telecom Egypt in Vodafone Egypt to Emirati holding ADQ, which is also of interest to the Qatar Investment Authority.

 

The negotiation between the Qatar Investment Authority and the Egyptian government to buy Telecom Egypt’s shares in Vodafone Egypt began in September.

 

Although due to a disagreement that ensued between Qatar Investment and the government of Egpyt, an agreement is yet to be reached.

 

The government of Egpyt wants to use the partial exit proceeds from its stake in Vodafone to establish and launch fifth-generation networks in the country over the supposed acquisition percentage.

 

Meanwhile, the government wants to give a share of not more than 25% of the company but the Qatari sovereign fund seeks to acquire the whole stake of Telecom Egpyt in Vodafone Egpyt. 

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