Egypt approves unified telecoms licence; TE to divest Vodafone Egypt stake by end-2015
Just a few days after reports suggested that Egypt’s unified license regime would go live in early September, according to Reuters the country’s government has approved the concessions. In announcing the development it has been revealed that fixed line incumbent Telecom Egypt (TE) has now been given until December 2015 to divest its 45% stake in local mobile network operator Vodafone Egypt.
Under the original plans for the unified concessions TE had been directed to sell off its holdings in the cellco within a year of the licence activation. Meanwhile, it has also understood that the state has set up a committee including representatives from the Ministry of Communications & Information Technology (MCIT) and Ministry of Finance, and has tasked with it examining the best way for the fixed line operator to exit Vodafone Egypt.