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Egyptian Gov’t Re-Commences Talks On Sale Of Vodafone Egypt Stake

COMMUNICATIONS
  • Not a spread mover; headline doesn’t relate to the Vodafone Group stake in Vodafone Egypt
  • Qatar resumes talks to buy a 45% stake in Vodafone Egypt owned by the Egypian government via Telecom Egypt after previous negotiations had stalled due to FX fluctuations.
  • The return to the deal has reportedly been prompted by the Ras Al-Hikma resort sale to the UAE and the Egyptian currency devaluation.
  • Agreement expected to be reached within weeks.
  • Egyptian gov’t is also reportedly planning a to sell 10% of its stake in Telecom Egypt.

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