Vodafone pushes gov’t to replace TE board members

Vodafone Egypt plans to reach out to the government to urge it to expedite the replacement of the four current board members representing Telecom Egypt (TE), which owns 45% of the company, sources tell Amwal Al Ghad. Vodafone has been pressing the government to replace current TE representatives with non-executive board members with no ties to its competitors to eliminate any conflict of interest, an issue which had plagued the company. The government had announced two years prior that state owned TE will exit its shares on Vodafone Egypt, but had backtracked on the decision.