Vodafone in Talks With Saudi Telecom to Close Egypt Unit Sale
September 14 2020 - 2:38AM
Dow Jones News
By Adria Calatayud
Vodafone Group PLC said Monday that it remains in discussions to
finalize a potential sale of its 55% stake in Vodafone Egypt to
Saudi Telecom Co.
The U.K. telecommunications group said it is now looking to
Saudi Telecom and Telecom Egypt SAE to find a suitable agreement to
enable the transaction to close.
Due diligence with respect to the potential sale has been
substantively completed, Vodafone said.
Vodafone in January said that it had agreed to sell its 55%
stake in its Egypt unit to Saudi Telecom for $2.39 billion.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
September 14, 2020 02:23 ET (06:23 GMT)
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