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Egypt EFG Hermes-Citibank to advise TE on Vodafone stake sale option

Telecom Egypt is very well positioned to ensure that its shareholders gain the maximum benefit out of the opportunities that are currently presented.
23.02.20 | Source: Zawya


The board of directors of Telecom Egypt approved a proposal to appoint the consortium comprised of EFG Hermes and Citibank to advise on its investment options regarding its stake in Vodafone Egypt.


“With this strong consortium on our side, Telecom Egypt is very well positioned to ensure that its shareholders gain the maximum benefit out of the opportunities that are currently presented,” the telecom operator’s CEO Adel Hamed said in a statement to the Egyptian Exchange (EGX) on Thursday.



 


Earlier, sources told Mubasher that Telecom Egypt selected EFG Hermes and Citibank as advisors to study the possible investment options regarding its 45% stake in Vodafone Egypt.



 

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