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Egypt financial regulator says STC must offer to buy remaining 45% in Vodafone Egypt

Friday 7 February 2020 | 10:15 CET | News
Egypt's Financial Regulatory Authority (FRA) says Saudi operator STC must offer to buy the remaining 45 percent of Vodafone Egypt owned by Telecom Egypt if it goes ahead with a USD 2.4 billion purchase of Vodafone Group's stake in the company, Reuters reported. In a letter released by Telecom Egypt, the FRA confirmed that the STC offer would be subject to a 1992 law requiring a mandatory tender offer for any outstanding shares. 

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Categories: Mobile & Wireless
Companies: STC / Telecom Egypt / Vodafone Egypt / Vodafone Group
Countries: Egypt
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