Cairo – Mubasher: ETEL said it had not received any offers or any correspondence to sell its stake in Vodafone, according to a newspaper publication.
The company added in a statement to the Egyptian Stock Exchange, issued today, Sunday, that it has no intention to sell its stake in Vodafone Egypt during the current period.
The Seventh Day newspaper quoted sources in the Egyptian telecom sector as saying that the Saudi Telecom Company negotiated with Vodafone International to buy its 55% stake in Vodafone Egypt.
It is noteworthy that the company achieved profits amounting to 3.2 billion pounds during the period from January to last September, compared to profits amounting to 3.5 billion pounds in the comparative period of 2018, taking into account minority rights.
The company’s revenues increased during the period to 19 billion pounds, compared to 17.3 billion pounds in the comparative period of last year.
On a quarterly basis, the company achieved profits of 1.09 billion pounds during the third quarter of this year, compared to profits of 1.44 billion pounds in the comparative period of 2018.
On the independent business level, the company achieved profits of 5.2 billion pounds, compared to profits of 2.04 billion pounds in the comparative period of 2018.
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