Cairo – Mubasher: Telecom Egypt (TE) has no urgent plans to exit from Vodafone Egypt as the state's landline monopoly deems it a very good investment, TE’s senior investor relations director Sarah Shabayek has said.
TE would only sell their stake in Vodafone Egypt if it reaches a “critical mass” in the mobile operator market, Shabayek added in an interview with Bloomberg.
The company’s decision whether to hold onto its 45% stake in Vodafone Egypt cannot cause any conflicts of interest, she noted, adding that TE is not aware of Vodafone Egypt’s plans during board meetings.
TE is working on reinforcing their customer base of the mobile market to reach 15% by 2022 from only 2% now, Shabayek indicated.
