Wednesday, September 29, 2010
Telecom Egypt Mulls MVNO Option
hile TE already holds a 45% stake in the country’s second largest cellco by subscribers, Vodafone Egypt, it is believed that it is considering the MVNO venture as a way to become more involved in the country’s mobile sector, prompted in part by continued fixed to mobile substitution.
TE had earlier this year looked to increase its stake in Vodafone Egypt, but the cellco’s UK-based parent company, Vodafone Group, ended negotiations in June 2010 over a possible divestment of its interest in its Egyptian subsidiary – little more than two weeks after the parties first began discussions.
TE had approached the British group in April 2010 to sound out the possibility of a possible deal, which had been valued at between GBP3 billion and GBP4 billion (USD4 billion-USD7 billion).