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title: stc finishes due diligence on Vodafone Egypt holding - Developing Telecoms
description: Saudi Arabia’s stc has completed its due diligence for a possible acquisition of Vodafone Group’s majority holding in Vodafone Egypt.
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 [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## stc finishes due diligence on Vodafone Egypt holding

 

 

   Details    James Barton    Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)     07 July 2020     10801 views   

 

  ![stc finishes due diligence on Vodafone Egypt holding](https://developingtelecoms.com/images/stories/Places/800x600/CairoUniv600.jpg)  

 

Saudi Arabia’s stc has completed its due diligence for a possible acquisition of Vodafone Group’s majority holding in Vodafone Egypt.

MENAFN reports that Saudi Telecom Company’s financial advisors will use the information to determine the value of a mandatory offer to Vodafone Group for its 55% stake in the Egyptian unit.

Vodafone signed a non-binding MoU agreeing to sell its holding to stc in January this year for nearly $2.4 billion, as reported by CommsUpdate. The memorandum was extended for 90 days beyond its original 75-day validity period due to the ongoing Covid-19 pandemic, and the initially agreed value will be replaced with a new consideration stipulated in the final agreement.

Telecom Egypt holds the remaining stake of almost 45% in Vodafone Egypt. MENAFN noted that stc is not interested in an acquisition of this holding, according to anonymous sources.

 

 

   
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