Eng. Mohamed Nawawy, CEO of Telecom Egypt, has emphasized that his company does not intend to sell its shares in Vodafone Egypt, amounting to about 45% of the total shares, at the current period.
He added that there is no legal text preventing Telecom Egypt from being a mobile operator in case that it obtained the virtual license, stressing that this license will allow the company to join the competitors in the mobile market, which represents one of the most growing sectors at present.
On the other hand, some news and social networking websites have recently reported that Telecom Egypt will sell its shares in Vodafone to the Egyptian businessman Khairat El Shater in exchange for the virtual license.
Nawawy added that Telecom Egypt, after appointing a new CEO, seeks to achieve stability, maintain its volume of business, and expand into new sectors, confirming that the company does not consider giving up its shares in Vodafone.
