Vodafone plans to sell Egyptian mobile holdings to focus on developing European India

Bit net (chinabyte) May 21 According to foreign reports, Vodafone, an international telecoms operator, plans to sell its stake in Vodafone Egypt, Egypt's second-largest mobile operator, at a price of £ 3 billion (about $4.3 billion).　　Egypt Telecom, the country's leading fixed-line company, EADS Egypt has been in contact with Vodafone to negotiate a 55% per cent stake in Vodafone's Egyptian company, the report said. The report, which quotes people familiar with the matter, said the talks could have started as early as one months ago, but no final decision has yet been made.　　Vodafone declined to comment, while the Egyptian telecoms side said it had no knowledge of the talks. According to Robin Bienenstock, an analyst with Bernstein, a market-analysis firm, Vodafone may want its holding stake in Vodafone Egypt to be priced at £ 3 billion per cent. At present, Egypt Telecom has a 45% stake in Vodafone Egyptian company.　　Earlier this month, Tarek Tantawi, Egypt's telecoms chief executive, said Tarek Tantawy was considering ways to penetrate the domestic mobile market in Egypt. If the deal is finally finalized, then Vittorio Colao, Vodafone's chief executive, will be successful in his efforts to slim down Vodafone's huge assets. Colao said in Tuesday that the company's focus will be on developing operations in Europe, Africa and India.　　While considering disposing of Vodafone's minority stakes in some mobile operators, Colao also said it would consider selling its holding stake. Fierce competition in the country's mobile market could also be exacerbated last month after a dispute between the French telecoms company and Egypt's OT mobile, the largest Internet access company, was resolved.　　In the past two years, the revenues of Vodafone Egypt have shown a major decline due to the weakness of the domestic economy. It is said that if the Egyptian telecoms company and Vodafone could not reach a final agreement on the negotiations, then the Egyptian telecom will try to obtain its own mobile operating license, but so far, the Egyptian government has not issued a fourth license.