More Africa NewsEgypt’s Finance Ministry said to be mulling sale of another stake in Telecom Egypt

September 15, 2023by myles0

Egypt’s Ministry of Finance (MoF) is reportedly considering selling an additional stake in local fixed line incumbent Telecom Egypt, Al-Borsa reports, citing unnamed sources familiar with the matter. According to the news outlet the MoF is examining its options with regards the divestment of between 10% and 15% of Telecom Egypt, having previously sold a 9.5% shareholding in the operator back in May 2023.

Meanwhile, it has been suggested that the possible sale of another stake in Telecom Egypt should not affect the latter’s plans to sell part of its holdings in Vodafone Egypt; although the terms of that transaction remain under discussion, a final deal is still expected to be reached this month. As per previous reports, it is understood that Qatar Investment Authority (QIA) is seeking to acquire Telecom Egypt’s entire 45% stake in Vodafone Egypt, though the government is said to remain keen to divest only a 25% shareholding.

Source: Commsupdate

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