Cairo: Tele-com Egypt, the Arab country's fixed-line monopoly, said it is studying a plan to increase its stake in the Egyptian mobile-phone unit of Vodafone Group.
Telecom Egypt is also considering bidding for the country's fourth mobile-phone licence if the government offers such a licence, the Cairo-based company's chief executive officer Tarek Al Tantawy said in a statement to the Egyptian Exchange yesterday.
Vodafone Group is in talks to sell its 55 per cent stake in Vodafone Egypt Telecommunications, a person familiar with the matter said on Friday.
Analysts put the value of the stake at about 3 billion pounds (Dh1.9 billion).
Telecom Egypt already owns 45 per cent of Egypt's second-largest mobile phone operator.
Competitors
Vodafone Egypt competes with the country's biggest wireless carrier Egyptian Co for Mobile Services, also known as Mobinil, and Etisalat Misr, which is owned by the United Arab Emirates' Emirates Telecommunications Corp (etisalat).
