Egypt sells $121.6 mn stake in state-held Telecom Egypt ...Kuwait

The New Arab - News
Egypt sells $121.6 mn stake in state-held Telecom Egypt
Egypt's government sold a 9.5% stake in state-controlled Telecom Egypt for 3.75 billion Egyptian pounds ($121.6 million), the finance ministry said in a statement on Sunday, breathing life into a privatisation programme that had seemingly stalled. Egypt desperately needs privatisation proceeds to meet a series of foreign debt obligations over the coming few months. Telecom Egypt's is the second sale of state assets since Prime Minister Mostafa Madbouly promised on April 29 to press ahead with the sales programme and sell assets worth $2 billion by the end of June. Under a $3 billion, 46-month financial support package signed in December, Egypt promised the Internation

Hence then, the article about egypt sells 121 6 mn stake in state held telecom egypt was published today ( ) and is available on The New Arab ( Kuwait ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Egypt sells $121.6 mn stake in state-held Telecom Egypt )

Apple Storegoogle play

Last updated :

Also on site :

Most viewed in News