Minister of Communications & Information Technology Dr. Amr Talaat said there is no intention to change Telecom Egypt’s (ETEL) stake in Vodafone Egypt.
Quick recap🧐 Earlier this month Vodafone Egypt received an offer for a 55% stake in the company. ETEL owns the other 45% & has preferential rights when it comes to shareholder restructuring, allowing it to step in & acquire the 55% stake in question.
Why is this important🤔 ETEL would gain full control of two of the four mobile operators in the country if its stake in Vodafone Egypt exceeds 51%, posing a potential concentration risk to the sector.