Vodafone cancels $2.4 bn deal to sell stake in Vodafone Egypt to STC

Vodafone announced it has terminated its discussions with Saudi Telecom Company (STC) for selling Vodafone’s 55 percent stake in Vodafone Egypt for $2.4 billion.
Vodafone telecom towerVodafone Group CEO Nick Read said: “Egyptian government is committed to an optimal framework for the telecoms sector, which will enable Vodafone Egypt to deliver on the country’s vision of digitization and financial inclusion and create a technology hub to support our growth in the African region.”