Breaking News

Saudi Telecom says no deal reached on Vodafone Egypt stake

By Reuters Staff

1 Min Read

DUBAI, Sept 13 (Reuters) – Saudi Arabia’s biggest telecoms operator Saudi Telecom Co (STC) on Sunday said no arrangement has been reached to buy a 55% stake in Vodafone Egypt, which the celebrations have actually consented to keep discussion open.In January, STC signed a non-binding arrangement to purchase the stake for $2.4 billion, extending the deal in April and again in July.STC ended

the second extension “without reaching an agreement to conclude the deal due to misalignment with pertinent parties,” it said in a stock market filing. (Reporting by Yousef Saba; Editing by Christopher Cushing)

Leave a Reply

Your email address will not be published. Required fields are marked *