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.
Telecom Egypt Co. will have to pay 2.5 billion Egyptian pounds ($359 million) for a unified license giving the country’s landline monopoly the right to offer services over competitors’ mobile-phone networks.
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).
Habib Haddad says when he needed money three years ago to fund Yamli, an online Arabic transliteration service, he had to sell his furniture. His deal with Yahoo! Inc. this week is a sign investors are more willing to put money into Middle East startups.