Cairo - Mubasher: Vodafone Egypt Telecommunications has raised its ownership stake in TBE Egypt for Payment Solutions and Services (Bee) and Applications & Payment Systems Development APSD (Masary), the subsidiaries of Ebtikar Holding for Financial Investments, to 9.99% each.
Vodafone has subscribed in a capital increase at par value in the subsidiaries of Ebtikar, one of B Investments Holding’s portfolio companies, according to a bourse filing on Tuesday.
Hence, Ebtikar’s stake reached 90.01% in Bee and 63.64% in Masary.
It is noteworthy to mention that in 2021, the standalone net profits of B Investments retreated by 44.5% year-on-year (YoY) to EGP 123.43 million, compared to EGP 222.66 million in 2020.
