Deals
Vodafone Squeezed in Egypt as State-Backed Partner Turns Rival
- Egypt Telecom plans own wireless service, may exit venture
- Deadline to seek new 4G license looms for Vodafone, Orange
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Vodafone Group Plc is getting squeezed in Egypt as its state-backed partner embarks on a solo push into wireless services -- crowding the market with a fourth provider while potentially leaving its U.K.-based ally to fend for itself.
To finance its own network, Telecom Egypt may sell its 45 percent stake in an existing venture with Vodafone, according to two analysts who have been briefed by the company. The options range from an initial public offering of the stake, transferring it elsewhere in the government or finding a private buyer.