The agreement signed in January 2020 by Saudi Telecom Company to acquire Vodafone Group’s 55% stake in Vodafone Egypt has come to an end. The two sides, however, decided to maintain the dialogue. According to STC, the Covid-19 hampered its logistical capacities to finalize the operation. It is not excluded that the acquisition by Saudi Telecom Company...
Saudi Telecom Company (STC) is in discussions to reduce its non-binding USD 2.39 billion offer for a stake in Vodafone Egypt, Bloomberg reported, citing two people with direct knowledge of the talks. The discussions come as a deadline nears for STC to move ahead with the non-binding offer first made in January. In July, the...
Mobile telephone operator Etisalat Misr, a subsidiary of the Emirati telecoms group Etisalat, and major operator in Egypt , intends to spend 4.5 billion Egyptian pounds (US$283-million) in 2020 on the North African country’s telecommunications market. Hazem Metwally, CEO of Etisalat Misr said the company plans to modernise its network and invest in new high...
283 million USD will be invested in 2020 by Etisalat Misr in the Egyptian telecoms market. The money will allow the company to modernize its network for a better quality of services, and to invest in new market segments with high potential. The mobile telephone operator Etisalat Misr, a subsidiary of the Emirati telecoms group Etisalat,...
Telecom Egypt has announced a 20% year-on-year increase in consolidated revenue in the quarter ended 30 June 2020, with turnover rising to EGP7.94 billion (USD497 million). It attributed this level of growth to what it called a ‘spike’ in retail revenue, which rose by 43% y-o-y to EGP3.63 billion. Turnover from the company’s ‘Enterprise’ and...
Citing COVID-19, the company issued a statement which reads: “Due to the logistical challenges caused by the COVID-19 pandemic, the parties need more time to complete the processes related to the transaction, including the due diligence.” It announced that the parties involved have agreed to extend the memorandum of understanding (MoU) regarding the deal for...
Saudi Telecom Company, the biggest telecommunications operator in the kingdom by market value, pushed back the completion of its purchase of a 55 per cent stake in Vodafone Egypt for the second time, saying it needed more time to complete the transaction. The company confirmed a deal earlier this year to buy the stake in...
Telecoms operator Etisalat Misr has partnered with real estate developer, Misr Italia Properties, for the provision of telecoms infrastructure at Cairo Business Park located in the New Cairo City. Etisalat Misr said the alliance is in line with Egypt’s digital transformation policy for 2030. In a statement, the companies confirmed the agreement will facilitate the...
The Saudi telecoms operator has been inching closer to the deal since the start of the year, having faced major set backs due to the pandemic Back in January, Saudi Telecom Company (STC) signed a memorandum of understanding with Vodafone Group to acquire its 55% stake in Vodafone Egypt. At the time, the deal was...
The 2019 KnowBe4 African Report collated insights from more than 800 respondents across South Africa, Kenya, Nigeria, Ghana, Egypt, Morocco, Mauritius and Botswana to determine their understanding of the growing, global cyber threat.
