Orascom Telecom Holding SAE , the biggest mobile-phone operator in the Middle East by users, will try to buy Vodafone Group Plc’s 55 percent holding in its Egyptian unit if it’s for sale, Chairman Naguib Sawiris said.
Egyptian Co. for Mobile Services , or Mobinil, retreated to second place in terms of market share for the first time since the introduction of mobile phones in Egypt in 1998, Al Mal newspaper reported, using its own calculations.
Vodafone Egypt’s operations and expansion plans were unaffected during acquisition talks between its parent company, Vodafone Group Plc, and Telecom Egypt, Al Alam Al Youm reported, citing Chief Executive Hatem Dowidar.
Vodafone Group Plc is in talks to sell its 55 percent stake in Vodafone Egypt Telecommunications Co., a person familiar with the matter said. The stake is valued by analysts at about 3 billion pounds ($4.3 billion).