The Clap
According to sources, the Saudi Public Investment Fund and ADQ are in the race with the Qatar Sovereign Fund to acquire a stake in Vodafone Egypt.
The Deets
Sources say that Telecom Egypt will consider selling up to a 20% stake in Vodafone Egypt at the highest possible price to guarantee the highest return for shareholders.
You Should Know
Telecom Egypt owns a 45% stake in Vodafone Egypt while Vodacom, a subsidiary of Vodafone International, holds a 55% stake.
Vodafone International
Vodafone International does not intend to exercise its pre-emption right in the event that the Qatar Investment Authority submits an official offer to Telecom Egypt to acquire part of its stake in Vodafone Egypt.
Pre-emption Right
Pre-emption right gives a partner the priority to buy another partner’s share if there is an intention to sell.
Nothing Official
Telecom Egypt disclosed that it had not received any official offers regarding Vodafone Egypt.
Vodafone Egypt in high demand 🔥
