Qatar Investment Authority expected to acquire stake in Vodafone Egypt by September

#Qatar Investment Authority (#QIA) is aiming to acquire #Telecom #Egypt’s (#TE’s) entire stake in #Vodafone #Egypt, it is now a suggested deal could be finalised by September 2023.

According to Daily News Egypt, which cites unnamed sources familiar with the matter, a deal had actually been expected to be finalised last month after the parties involved agreed on the valuation of #Vodafone #Egypt. It was, however, delayed as the stake to be sold remained a topic of debate; it is understood that #QIA continues to seek #TE’s entire 45% stake in #Vodafone #Egypt, while the #Egyptian #government – TE’s majority shareholder – remains keen to divest only a 25% shareholding.

#Egypt, #Telecom Egypt, ,#TE, #Vodafone #Egypt, #Corporate, #Financial, #Mergers , #Acquisitions #qatar #investment

Nonetheless, the sources quoted by the local press outlet said that negotiations are continuing, and it is expected that implementation of a deal will take place before end-September 2023.