British telco Vodafone is expected to realize a capital gain of $1.7 billion if the sale of its Egyptian subsidiary is completed. The group has recently reached a deal with Saudi Telecom Company, which has offered $2.39 billion to buy the shares.
This capital gain corresponds to the remaining share of the British group in the capital of Vodafone Egypt. According to a statement by US Securities and Exchange Commission in 2004, Vodafone reached an agreement to get 7% stake in the Egyptian branch from the French company Vivendi, which was also a co-shareholder. The amount spent on the deal was not disclosed.
Vodafone entered the Egyptian market in 1998 through the acquisition of 30% stake in the capital of the Misrfone company for £100 million. Misrfone obtained an operator's license the same year. In 1999, Vodafone acquired the remaining shares in Misrfone from the US operator Airtouch, for £326 million. Considering the pound sterling/US dollar exchange rate of that period, the total value disbursed was $681.6 million.
Idriss Linge
The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...
Nigeria introduced a 1% flat tax on the turnover of informal-sector businesses under a new presump...
Standard Bank explores infrastructure investment opportunities in DR Congo Talks focus on transport, energy and economic infrastructure...
Malian malaria researcher Abdoulaye Djimdé has been appointed to the U.N. Secretary-General’s Scientific Advisory Board. The body provides independent...
Sub-Saharan Africa recorded 7 aviation accidents in 2025, or 7.86 per million flights, down from 12.13 in 2024. Runway excursions and poorly classified...
DR Congo insurance regulator, SEGUCE sign deal to enforce import coverage Agreement integrates insurance certificates into digital trade documentation...
With much of Africa’s cultural heritage still held outside the continent and restitutions in Europe moving slowly, a South African video game imagines...
Paris exhibition showcases Brazilian painter Gonçalo Ivo’s Africa-inspired works Show runs March 20-July 9 at La Maison Gacha Exhibition...