Vodafone Group is considering options for its Ghana business as it focuses on reorganising the group and paying down debt, according to people familiar with the matter. The British telecommunications giant could sell its majority stake in the unit to Johannesburg-listed Vodacom Group, in which Vodafone is the biggest shareholder, said the people, who asked to...
Vodafone Group announced today (21 December 2020) that its discussions with Saudi Telecom Company (stc) regarding the potential sale of Vodafone’s 55% shareholding in Vodafone Egypt have been terminated. Vodafone Group CEO Nick Read added in a note to the London Stock Exchange: ‘We believe that the Egyptian government is committed to an optimal framework for the...
Vodafone Group has announced that its Egyptian unit has been awarded a 40MHz block of 2.6GHz TTD spectrum by the National Telecommunications Regulatory Authority (NTRA). In a press release regarding the matter, the British company confirmed that Vodafone Egypt has been awarded the new frequencies under a ten-year licence, valid through to 2030, for an initial payment...
Telecom Egypt announced on its website on Saturday (19 September 2020) that it has submitted a financial and technical offer to the National Telecommunications Regulatory Authority (NTRA) to apply for additional mobile spectrum in the 2600MHz TDD band with ten-year usage rights. The operator stated that the move is aimed at improving service quality, modernising infrastructure and...
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...
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...
The UN Broadband Commission for Sustainable Development estimates that an additional $109 billion in investment is required to achieve universal, affordable, and good quality broadband internet access by 2030. To put this number into context, Vodafone – one of the biggest investors in African telecoms infrastructure – spends around $1 billion annually on network upgrades in its markets across the continent.
To accommodate the surge in internet traffic during the COVID-19 pandemic in Ghana, President Nana Akufo-Addo has directed the Ministry of Communications to extend the spectrum of networks belonging to MTN and Vodafone, at no cost to the service providers. Ghana’s Communications Minister Ursula Owusu-Ekuful said the restriction of movements in the country has led...
