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Telecom Egypt seeks advisers for sale of Vodafone stake [New Vision (Uganda)](New Vision (Uganda) Via Acquire Media NewsEdge) Telecom Egypt (TE) plans to hire financial advisers for the potential sale of a 45 percent stake in Vodafone Egypt, Bloomberg reported citing TE official who sought anonymity. TE reportedly sent requests for proposals to local and international banks seeking to value the unit. Banks will also help identify potential buyers for the stake, a second person said, also asking not to be identified. TE will sell its holding in Vodafone Egypt by the end of 2015, the government said in September. Officials have approved the issuance of a licence that allows TE to become the country's fourth mobile services provider and permits the local units of Vodafone, Etisalat Misr and Mobinil to sell land lines. Vodafone owns 55 percent of its local unit, with Telecom Egypt holding the remainder. The majority shareholder said in March it's considering filing for international arbitration if the new license gives an unfair advantage to Telecom Egypt or creates a conflict of interest. COPYRIGHT (c) 2014 NEWVISION. ALL RIGHTS RESERVED. Provided by SyndiGate Media Inc. (Syndigate.info). [ Back To TMCnet.com's Homepage ] |