Since then, it has postponed the acquisition twice — once in April and again in July when the operator said it would need a further two months to complete the purchase.
In both cases, it blamed "logistical challenges caused by the COVID-19 pandemic."
The transaction is certainly complex, involving the alignment of a number of factors.
For example, state-owned operator Telecom Egypt holds a 44.8% stake in Vodafone Egypt.
STC has been told by the country's Financial Regulatory Authority that it must also offer to buy this stake, under the provisions of a 1992 law mandating a tender for any outstanding shares.
The operator has apparently said it is not willing to buy the minority stake. The remaining 0.2% stake is owned by small shareholders.
It's also far from clear what Telecom Egypt wishes to do with its stake. The operator is understood to hold a right of preemption to acquire the Vodafone Egypt shares that it does not already own should Vodafone decide to sell.
A report from the MENAFN news wire said last month that Telecom Egypt is continuing to monitor the situation closely, and is working with consultants to identify and evaluate all available options.
Meanwhile, Vodafone Egypt reported strong revenue growth in the year to end-March 2020. The operator had about 40.2 million mobile customers and around 694,000 fixed broadband subscribers.
Safaricom is launching an M-Pesa 'super-app' which will let SMEs create their own business apps within the mobile money ecosystem, according to CIO, George Njuguna, who was speaking at East Africa Com.
Africa was the birthplace of Mobile Money and while it continues to rise in popularity, the industry is quickly evolving and launching more mobile-based financial services every day. In this Connecting Africa online event, local analysts and industry stakeholders will discuss how telcos are disrupting the financial services space and what the rise of Mobile Money 2.0 will look like for Africa.
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