Telecom Egypt, the country monopoly fixed line operator, is report edly in talks to buy the Vodafone Group’s 55 per cent stake (worth $4.3 billion) in Vodafone Egypt Telecommunications Company.

Telecom Egypt, the country monopoly fixed line operator, is reportedly in talks to buy the Vodafone Group’s 55 per cent stake (worth $4.3 billion) in Vodafone Egypt Telecommunications Company.
Through this buyout, Telecom Egypt, which already owns 45 per cent stake in Vodafone Egypt, plans to further increase its exposure to the mobile phone market in the country. If the deal does not work out, Telecom Egypt is considering applying for the fourth mobile phone licence in the country, provided the Egyptian government makes one available.