Thndr Claps » EGY Claps » Telecommunications » QIA could acquire stake in Vodafone Egypt👀
The ClapQatar Investment Authority is reportedly in advanced talks to acquire a 20% stake in Vodafone Egypt from Telecom Egypt (ETEL).
DeetsThe talks are part of a wider $2.5 billion investment plan in several state-held stakes in Egyptian companies.
The other stakes are not in EGX-listed companies, according to the sources.
So whatThe deal would be a boost to the anticipated IMF loan in light of Egypt’s current economic situation.
ETEL closed 4.4% on the back of the news.
Now whatIf the deal goes through, it’s expected to be finalized by the end of this year.
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