0
Wireless

STC delays USD 2 bln debt talks for Vodafone Egypt deal over Covid-19 - report

Friday 3 April 2020 | 08:57 CET | News
Saudi Telecom Company (STC) has postponed talks to raise debt to fund the acquisition of Vodafone Group's stake in its Egyptian business because of the coronavirus outbreak, Bloomberg reported citing unnamed sources. Work on the acquisition is still continuing and STC may resume negotiations with banks for a loan of more than USD 2 billion once things have settled, the report said. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: STC / Vodafone / Vodafone Egypt / Vodafone Group
Countries: Saudi Arabia
::: add a comment
This article is part of dossier

Coronavirus


Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

STC looks for USD 1 bln in financing to complete Vodafone Egypt deal

Published 24 Sep 2021 12:01 CET | Saudi Arabia
STC and Vodafone Egypt have returned to the discussion floor, regarding the sale of Vodafone's 55 percent stake in Vodafone ...

Telecom Egypt mulls acquisition of all Vodafone Egypt shares - report

Published 16 Sep 2020 10:15 CET | Egypt
Telecom Egypt is considering acquiring all the shares in Vodafone Egypt, Al-Borsa reported, citing sources close to the potential ...

STC fails to strike deal on buying Vodafone Egypt stake

Published 14 Sep 2020 09:11 CET | Egypt
Saudi Telecom Company (STC) said no agreement has been reached to buy a 55 percent stake in Vodafone Egypt, but the parties have ...

STC seeks to slash USD 2.40 bln offer for Vodafone Egypt - report

Published 08 Sep 2020 09:39 CET | Saudi Arabia
Saudi Telecom Company (STC) is in discussions to reduce its non-binding USD 2.39 billion offer for a stake in Vodafone Egypt, ...

STC revenue increases 4% in Q1, EBITDA down 1%

Published 21 Apr 2020 17:48 CET | Saudi Arabia
Saudi operator STC Group said its revenue increased by 4.1 percent to SAR 13.9 billion in the first quarter compared to to the ...

STC extends Vodafone Egypt stake purchase process by 90 days

Published 14 Apr 2020 09:45 CET | Saudi Arabia
Saudi Telecom Company (STC) says it needed more time to complete processes related to buying Vodafone Group's 55 percent stake in ...

Vodafone agrees to sell 55% stake in Egypt unit to STC

Published 29 Jan 2020 08:53 CET | Egypt | Update: 29 Jan 2020 10:11 CET
Vodafone Group has agreed to sell its 55 percent stake in Vodafone Egypt to Saudi Telecom Company (STC) for USD 2.39 billion ...