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Reuters
Head of the External Communications and Media Department at “Vodafone Egypt”, Noha Saad, revealed the scenes of her company’s decision to suspend the sale of its stake to STC.
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“Let us start with the meeting of the CEO and Managing Director of Vodafone International with President Abdel Fattah El-Sisi, in a meeting at the highest level,” said Noha Saad, during her interview with the media, Lamis Al-Hadidi.
She added: “Many files were discussed in the meeting and further cooperation with the company in the field of communications.”
And she continued: “The truth is that the meeting was positive, and then the reaction came in its wake in a very important way, and then the company’s statement was issued this morning and notified by global stock exchanges because Vodafone is listed in international exchanges and announced the suspension of all talks and discussions with the Saudi side regarding the sale of a 55% share of the Vodafon Egypt. “
She attributed the reasons for her company’s retreat from the deal, saying: “The meeting with the president was very important and positive, as the files of the obstacles facing Vodafone Egypt and its regulatory frameworks, such as offering frequencies, were reviewed, which was an important and detailed axis for Vodafone to remain in Egypt in addition to the file of building the towers.”
And she continued: “When these files were discussed at the highest level of the state with His Excellency President Al-Sisi, they must have resonated in our decisions by keeping a large investor in Egypt, such as Vodafon, not only that, but also increasing its investments.”
Source: Money
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