{"id":568980,"date":"2020-02-10T04:39:06","date_gmt":"2020-02-10T04:39:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/telecom-egypt-receives-three-offers-to-advise-on-stc-vodafone-mto\/"},"modified":"2020-02-10T04:39:06","modified_gmt":"2020-02-10T04:39:06","slug":"telecom-egypt-receives-three-offers-to-advise-on-stc-vodafone-mto","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/telecom-egypt-receives-three-offers-to-advise-on-stc-vodafone-mto\/","title":{"rendered":"Telecom Egypt receives three offers to advise on STC Vodafone MTO"},"content":{"rendered":"

<\/a> M&A WATCH- EFG Hermes, CI Capital, HSBC and Citibank are in the running to <\/strong>advise TE on STC\u2019s Vodafone MTO:<\/strong> Telecom Egypt (TE) has solicited offers from four investment banks to advise the company as it weighs options for its 44.8% stake in Vodafone Egypt, Hapi Journal reports<\/a>, citing sources close to the matter. The state-owned landline monopoly said last week<\/a> that it is looking to hire an advisor after the Financial Regulatory Authority (FRA) said that the Saudi Telecom Company (STC) would be required to submit a mandatory tender offer (MTO) for TE\u2019s stake in Vodafone Egypt.<\/p>\n

TE has so far received three offers:<\/strong> One from Citibank, one from a CI Capital-HSBC consortium, and another from EFG Hermes, which could potentially partner with Lazard International.<\/p>\n

What are TE\u2019s options?<\/strong> The minority shareholder could seek to retain its current ownership, preemptively bid for Vodafone Group\u2019s 55% stake, or sell shares in part or in whole. TE hasn\u2019t yet raised any objections<\/a> and has signalled that it is not looking to exercise its right of first refusal. Any moves would still heavily depend upon STC\u2019s MTO valuation. Sources with knowledge of the matter who spoke with Hapi Journal suggested that if TE were to seek to sell its stake in Vodafone, it would come in the form of a partial sell off in exchange for a seat at the company\u2019s board of directors.<\/p>\n

Telecom Egypt is set to come to a final decision<\/strong> on its financial advisor appointment by next week.<\/p>\n

The Financial Regulatory Authority said STC would have to launch an MTO <\/strong>after the Saudi network operator signed a non-binding MoU to for the USD 2.39 bn purchase of Vodafone Group\u2019s 55% stake in Vodafone Egypt late last month<\/a>. The sale values Vodafone Egypt at USD 4.4 bn and would give STC a 42% share of Egypt\u2019s telecommunications market.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- EFG Hermes, CI Capital, HSBC and Citibank are in the running to advise TE on STC\u2019s Vodafone MTO: Telecom Egypt (TE) has solicited offers from four investment banks to advise the company as it weighs options for its 44.8% stake in Vodafone Egypt, Hapi Journal reports, citing sources close to the matter. The […]<\/p>\n","protected":false},"author":1,"featured_media":568981,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[136,294,84,72,4560,76,490,125,7128,1601,2380,212,142],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-ci-capital","tag-citigroup","tag-efg-hermes","tag-enterpriseam","tag-financial-offerings","tag-financial-regulatory-authority","tag-hsbc","tag-investment-watch","tag-ma-watch","tag-saudi-telecom-company","tag-speed-round","tag-telecom-egypt","tag-vodafone-egypt","wpautop","entry"],"acf":{"mongo_id":"ed1f5c30-d2ff-4394-9941-9e0294eeeb26","is_powered_by":true,"section_story_id":"7f61789c-708c-42c4-ad05-be211665ba2c","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/128.jpg","photo_position":"above","related_issue":[568968],"teaser":"","voice_url":""},"yoast_head":"\nTelecom Egypt receives three offers to advise on STC Vodafone MTO - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/telecom-egypt-receives-three-offers-to-advise-on-stc-vodafone-mto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telecom Egypt receives three offers to advise on STC Vodafone MTO\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- EFG Hermes, CI Capital, HSBC and Citibank are in the running to advise TE on STC\u2019s Vodafone MTO: Telecom Egypt (TE) has solicited offers from four investment banks to advise the company as it weighs options for its 44.8% stake in Vodafone Egypt, Hapi Journal reports, citing sources close to the matter. 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The Saudi Telecom Company (STC) is planning to submit paperwork to the Capital Market Authority arguing that it should be exempt from making a mandatory tender offer for Telecom Egypt's stake\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568885,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/telecom-egypt-to-hire-an-investment-bank-to-oversee-stcs-mto-for-vodafone\/","url_meta":{"origin":568980,"position":1},"title":"Telecom Egypt to hire an investment bank to oversee STC\u2019s MTO for Vodafone","author":"enterpriseam admin","date":"6 February 2020","format":false,"excerpt":"M&A WATCH- Market regulator confirms STC must submit MTO for 100% of Vodafone Egypt, prompting TE to look for advisors: Telecom Egypt (TE) is in the market for an investment bank to advise it on the mandatory tender offer (MTO) Saudi Telecom Company (STC) is required to submit for TE\u2019s\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/94.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569739,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/05\/stc-begins-vodafone-egypt-due-diligence\/","url_meta":{"origin":568980,"position":2},"title":"STC begins Vodafone Egypt due diligence","author":"enterpriseam admin","date":"5 March 2020","format":false,"excerpt":"M&A WATCH- STC begins Vodafone Egypt due diligence: Saudi Telecom (STC) has begun doing due diligence on Vodafone Egypt ahead of a possible USD 2.4 bn acquisition of Vodafone Group\u2019s 55% stake in the company, unnamed sources told Youm7. 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