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Wireless

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

Wednesday 29 January 2020 | 08:53 CET | News
Update: 29 January 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 cash. This gives the mobile operator co-owned with Telecom Egypt an enterprise value of USD 4.35 billion and a multiple of 7.0x adjusted EBITDA for the year to September. 

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[29/01/2020 10:11- Update: Corrects order in first sentence.]


Categories: Mobile & Wireless
Companies: STC / Vodafone Egypt / Vodafone Group
Countries: Egypt / Saudi Arabia
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"Vodafone Group has agreed to sell its 55 percent stake in Saudi Telecom Company (STC) for USD 2.39 billion cash." should read "Vodafone Group has agreed to sell its 55 percent stake in Vodafone Egypt to Saudi Telecom Company (STC) for USD 2.39 billion cash."
Julian Rawle @ 29/1/2020 - 10:07


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