The Ministry of Finance (MoF) in Egypt is currently considering selling an additional stake in Telecom Egypt, the local fixed-line telecommunications provider. The MoF is exploring the possibility of divesting between 10% and 15% of the company. It's important to mention that back in May 2023, the MoF had already sold a 9.5% stake in Telecom Egypt.
In another twist, there are indications that the potential sale of an additional stake in Telecom Egypt is unlikely to hinder the company's intentions to sell a portion of its holdings in Vodafone Egypt. While the precise details of this transaction are still under negotiation, a final agreement is expected to be reached this month. The Qatar Investment Authority (QIA) is said to be keen on acquiring Telecom Egypt's entire 45% stake in Vodafone Egypt. Nevertheless, the government's preference is to divest only a 25% shareholding.
