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Vodafone agrees to sell 55% stake in Egypt unit to STC
2020-01-29 08:53:00| Telecompaper Headlines
(Telecompaper) Vodafone Group has agreed to sell its 55 percent stake in Saudi Telecom Company (STC) for USD 2.39 billion cash. This gives the mobile operator co-owned with Telecom Egypt an enterprise value of USD 4.35 billion and a multiple of 7.0x adjusted EBITDA for the year to September.