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Saudi Telecom Company (STC), the long-standing telecommunications operator in Saudi Arabia, announces that it has extended by 90 days the duration of the transaction to acquire the 55% stake in Vodafone Group in its subsidiary d ‘Egypt. The company explains that its decision stems from logistical problems caused by the coronavirus. It was on January 29,...

Egypt’s Financial Regulatory Authority (FRA) has confirmed that Saudi Telecom Company (stc) will be required to make an offer for the 44.94% of Vodafone Egypt currently held by Telecom Egypt, if it completes a proposed USD2.4 billion purchase of Vodafone Group’s 54.93% stake in the Egyptian cellco. According to Reuters, which cites a letter released...

The British telecoms group Vodafone Group Plc has entered into negotiations with Saudi Telecom Company (STC) on the sale of the majority of its shares in its Egyptian subsidiary. According to Bloomberg, who reports the information, the news was released by a senior government official who declined to be named until the government was officially contacted. It is...

Egypt will launch its first communication satellite into orbit today (22 November) to improve its communications infrastructure and internet services, and attract investment. Reuters reports that the ‘Tiba-1’ satellite – named after the ancient Egyptian capital of Thebes – is scheduled to launch on one of Europe’s Arianespace rockets from a space centre in French...

On the sidelines of the Euromoney Conference held in Egypt on September 9, 2019, the Minister of Communications and Information Technology, Amr Talaat, announced the construction of seven technology parks in different universities of the country, during this year. He added that a project to create a university specialized in ICT in the Knowledge City, located...

Egypt’s Ministry of Communications and Information Technology (MCIT) is reportedly planning to begin work on the construction of an EGP40 billion (USD2.44 billion) telecommunications network, as part of the first phase of development of the country’s proposed new capital city. According to Reuters the MCIT has signed a cooperation agreement with the Administrative Capital for Urban Development...

Egypt’s National Telecommunications Regulatory Authority (NTRA) and Orange Egypt, Vodafone Egypt and Etisalat Misr have signed a settlement agreement on 9 September 2019. The purpose of this arrangement initialed by Mustafa Abdel Wahed, Executive Chairman of NTRA, Yasser Shaker, CEO of Orange Egypt, Alexander Froman, CEO of Vodafone Egypt and Hazem Metwally, CEO of Etisalat...