STC in talks to acquire 55% of Vodafone Egypt

Saudi operator STC is in talks to acquire a stake in Vodafone Egypt, Youm7 newspaper reported, citing sources. The talks concern the 55 percent stake controlled by Vodafone International in Vodafone Egypt, the newspaper said.

STC has long been interested in Vodafone Egypt, with reports back in 2013 claiming that the Saudi firm was eyeing up the 45 percent stake owned by Telecom Egypt.