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Egypt: UK’s Vodafone has rumored interest in joint venture buyout

By  |  October 24, 2013

According to reports, an anonymous source from UK wireless giant Vodafone says the company could be interested in acquiring Telecom Egypt’s share of the companies’ joint venture, Vodafone Egypt.

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    Telecom Egypt currently owns a 45 percent stake in the venture, though Vodafone is interested in acquiring that share, the source said.

    While a formal offer for the stake has not been made, reports say the buyout would quell political concerns over the government’s recent decision to issue an integrated license to the fixed-line Vodafone Egypt. That license would require the company to enter the market as a virtual operator, say reports, which has sparked a conflict of interest.

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