Cairo – Mubasher: Telecom Egypt, which owns the major stake in Vodafone Egypt, is studying available alternatives to manage its investments in Vodafone Egypt.

The company is closely monitoring the procedures adopted by Vodafone to sell its stake in Vodafone Egypt to Saudi Telecom Company (stc), according to the company’s disclosure to Egyptian Exchange (EGX).

It is noteworthy to mention that on Wednesday, stc signed an agreement with Vodafone Group to acquire 55% shareholding in Vodafone Egypt at a value of $2.392 billion (SAR 8.97 billion) for the stake, equivalent to the value of Vodafone Egypt of around $4.35 billion.