{"id":630286,"date":"2018-04-17T03:54:03","date_gmt":"2018-04-17T03:54:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/17\/te-will-not-sell-stake-in-vodafone-egypt-soon-to-focus-on-growing-market-share-to-15-by-2022\/"},"modified":"2018-04-17T03:54:03","modified_gmt":"2018-04-17T03:54:03","slug":"te-will-not-sell-stake-in-vodafone-egypt-soon-to-focus-on-growing-market-share-to-15-by-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/17\/te-will-not-sell-stake-in-vodafone-egypt-soon-to-focus-on-growing-market-share-to-15-by-2022\/","title":{"rendered":"TE will not sell stake in Vodafone Egypt soon, to focus on growing market share to 15% by 2022"},"content":{"rendered":"

<\/a> Shocking exactly no one, Telecom Egypt says it is not planning to sell its stake in Vodafone Egypt (VFE) any time soon: <\/strong>\u201cVodafone Egypt is a very good investment \u2026 A sale would only be considered if we reach a critical mass in the mobile market to the extent that we start cannibalizing on such investment,\u201d Senior IR Director Sarah Shabayek tells Bloomberg in an interview<\/a>, stopping short of getting into specifics. The state-run fixed-line monopoly holds a 45% stake in Vodafone Egypt, which had raised questions about conflict of interest<\/a> after TE launched its own mobile phone service last year, putting it in direct competition with VFE. Shabayek brushed off the concerns, saying that there is no conflict since TE is \u201cnot privy to [Vodafone\u2019s] plans during board meetings.\u201d<\/p>\n

So what\u2019s next for TE?<\/strong> Shabayek said that TE intends to focus on growing its network of mobile subscribers and increasing its share of the market to as much as 15% by 2022, from 2% currently. TE also \u201cwants its own network to cover 50% of the data traffic of its clients this year and is working to secure a USD 13 bn facility from a local banking consortium<\/a> in order to finance network infrastructure upgrades.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shocking exactly no one, Telecom Egypt says it is not planning to sell its stake in Vodafone Egypt (VFE) any time soon: \u201cVodafone Egypt is a very good investment \u2026 A sale would only be considered if we reach a critical mass in the mobile market to the extent that we start cannibalizing on such […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630286","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"019e79d8-8043-46b8-a151-ef5500d27858","order":"0","is_powered_by":true,"section_story_id":"40e47e51-77b9-4b8f-9dd1-c67892c6e8df","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630271],"teaser":"","voice_url":""},"yoast_head":"\nTE will not sell stake in Vodafone Egypt soon, to focus on growing market share to 15% by 2022 - 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Telecom Egypt on Vodafone Egypt transaction early next month.","author":"enterpriseam admin","date":"24 March 2020","format":false,"excerpt":"Buy, sell or hold? Telecom Egypt on Vodafone Egypt transaction early next month. Telecom Egypt will decide early next month whether it will exercise its right of first refusal on Vodafone Group\u2019s 55% stake in Vodafone Egypt, the local press reports, citing sources close to the matter. Saudi Telecom (STC)\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":568758,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/03\/could-telecom-egypt-sell-its-stake-in-vodafone-egypt\/","url_meta":{"origin":630286,"position":1},"title":"Could Telecom Egypt sell its stake in Vodafone Egypt?","author":"enterpriseam admin","date":"3 February 2020","format":false,"excerpt":"M&A WATCH- Could Telecom Egypt sell its stake in Vodafone Egypt? Telecom Egypt (TE) is more likely to offload its 45% stake in Vodafone Egypt than it is to call on its right of first refusal to bid for Vodafone Group's 55% holding, say analysts and experts speaking to Reuters\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\/23.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576067,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/09\/vodafone-egypt-chief-confirms-sale-talks-are-still-on-says-vfe-will-make-full-use-of-new-spectrum-in-18-24-months\/","url_meta":{"origin":630286,"position":2},"title":"Vodafone Egypt chief confirms sale talks are still on, says VFE will make full use of new spectrum in 18-24 months","author":"enterpriseam admin","date":"9 November 2020","format":false,"excerpt":"INVESTMENT WATCH- Vodafone Egypt chief confirms sale talks are still on, says VFE will make full use of new spectrum in 18-24 months. Vodafone Egypt expects to maximize the usage of its new frequencies within the next 18-24 months, CEO Mohamed Abdallah said at a press conference yesterday, according to\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\/11\/89.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639053,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/19\/vodafone-te-still-havent-reached-domestic-roaming-agreement-vfe-ceo\/","url_meta":{"origin":630286,"position":3},"title":"Vodafone, TE still haven\u2019t reached domestic roaming agreement -VFE CEO","author":"enterpriseam admin","date":"19 October 2017","format":false,"excerpt":"Vodafone Egypt has yet to ink a domestic roaming agreement with Telecom Egypt, VFE CEO Stefano Gastaut said, according to Al Mal. Talks between the two over the roaming agreement \u2014 which will allow TE to use VFE\u2019s network infrastructure to offer its own mobile services \u2014 have been ongoing\u2026","rel":"","context":"In "Telecoms + ICT"","block_context":{"text":"Telecoms + ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":639089,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/22\/government-to-resolve-te-and-vfes-conflict-of-interest-before-years-end\/","url_meta":{"origin":630286,"position":4},"title":"Government to resolve TE and VFE\u2019s conflict of interest before year\u2019s end?","author":"enterpriseam admin","date":"22 October 2017","format":false,"excerpt":"Government to resolve TE, Vodafone Egypt conflict of interest before year\u2019s end? The Ismail Cabinet is reportedly looking to put to rest the conflict of interest between Telecom Egypt and Vodafone Egypt before the end of 2017, sources close to the matter tell Al Masry Al Youm. The government is\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":542832,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/vodacom-shareholders-approve-vodafone-egypt-acquisition\/","url_meta":{"origin":630286,"position":5},"title":"Vodacom shareholders approve Vodafone Egypt acquisition","author":"enterpriseam admin","date":"19 January 2022","format":false,"excerpt":"Vodafone Plc took a step closer to offloading its majority stake in Vodafone Egypt to its South African subsidiary yesterday after receiving shareholder backing. 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