TE to abandon its shares in Vodafone after getting license
Minister of Communication Atef Helmy - YOUM7 (Archive)
By HEBA EL SAID

CAIRO: Minister of Telecommunication and Information Technology Atef Helmy said Thursday that Telecom Egypt (TE) would abandon its 45 percent shares in the mobile network operator Vodafone Egypt after getting a fully integrated license for launching the fourth mobile network.

There is no legal contradiction for TE, 80 percent state-owned, to get a fully integrated license to run a mobile network and keeping it shares in Vodafone Egypt, Helmy said. The contradiction however will lie in the operational field, he explained, and as such TE cannot combine both operating a new mobile network license and having a share in Vodafone Egypt.

The minister added there is practical experience with allowing any mobile network operator all over the world to acquire shares in its rival “that is working in the same market,” so TE will abandon its shares in Vodafone.

Originally published in Youm7.

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