Orascom Telecom would consider bidding for Vodafone’s 55% in its Egyptian unit if it was put up for sale, executive chairman Naguib Sawiris was quoted saying in Reuters.
Fixed-line operator Telecom Egypt revealed last week that it held preliminary talks…
Orascom Telecom would consider bidding for Vodafone’s 55% in its Egyptian unit if it was put up for sale, executive chairman Naguib Sawiris was quoted saying in Reuters.
Fixed-line operator Telecom Egypt revealed last week that it held preliminary talks with the British operator to possibly buy the 45% stake it does not own in Vodafone Egypt.
A spokesman at Vodafone said: “We’re not commenting but it’s important to understand that it was Egypt Telecom which approached us.”
The Egyptian incumbent is currently examining options to own a mobile operator and could also choose to wait for the auction of a fourth mobile licence, which may happen in October this year. Its fixed-line customer base has shrunk over the last years due to increasing competition from cheap mobile subscriptions.
Orascom Telecom was not immediately available for comments.
