Saudi Telecom ‘STC’ reaches a deal with Vodafone Group to acquire its stake in Vodafone Egypt

Saudi Telecom Company (STC) has reached a deal with Vodafone Group to acquire its stake in Vodafone Egypt. Vodafone has informed the local authorities in Egypt and the deal is expected to be announced in a press conference today.

Vodafone Group owns 55% of Vodafone Egypt while Telecom Egypt owns 45%.

STC operates in Saudi Arabia, Malaysia, Indonesia, Turkey, South Africa, Bahrain, and Kuwait.