Telecom Egypt Says No Need to Sell its Stake in Vodafone Egypt Yet

Telecom Egypt (ETEL.CA) announced on Sunday that if it obtains the 4G licence – which is expected to be issued within the next 2 years, the company  will look into the best options for its shareholders regarding the company’s stake in Vodafone Egypt either by completely acquiring Vodafone Egypt or by exiting the company according to the price and the will of the stakeholders.

The company added in a press release to the Egyptian Exchange (EGX), that currently there is no immediate need to exit Vodafone Egypt and that Telecom Egypt didn’t receive any notifications to do so.

In another release, the company announced that it is still waiting for the unified licence to be issued.