Companies / Egypt
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Telecom Egypt Offloads Internet Stakes
February 2008 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Telecom Egypt has signed a share purchase agreement to sell minority stakes in two internet service providers. The incumbent will relinquish its 27.7% shareholding in Nile Online (NOL) and a 16.46% stake in The Egyptian Company for Networks (EgyNet) to Etisalat Misr, the Egyptian arm of UAE-based Etisalat. Completion of the transaction, the value of which has not been disclosed, is expected before March 2008.