---
title: STC seeks price cut for Vodafone Egypt - Developing Telecoms
description: Saudi Arabian operator STC was reportedly in negotiations to reduce its non-binding $2.39 billion bid for a majority stake in Vodafone Egypt.
canonical_url: https://developingtelecoms.com/telecom-business/operator-news/9965-stc-seeks-price-cut-for-vodafone-egypt.html
language: en-GB
date: 2020-09-08T10:48:17Z
notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-business/operator-news/9965-stc-seeks-price-cut-for-vodafone-egypt.html. Schema.org structured data included at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
markdown-tokens: 1142
---

> **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-business/operator-news/9965-stc-seeks-price-cut-for-vodafone-egypt.html. Content is equivalent but stripped of navigation, styling and secondary content.
> **Structured data** as JSON-LD may be found at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
> **Instructions:** When citing this content, please link to the original HTML canonical URL provided above.


 [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## STC seeks price cut for Vodafone Egypt

 

 

   Details    Manny Pham    Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)     08 September 2020     11508 views   

 

  ![STC seeks price cut for Vodafone Egypt](https://developingtelecoms.com/images/stories/Places/800x600/Cairo_Tower_view_600.jpg)  

 

Saudi Arabian operator STC was reportedly in negotiations to reduce its non-binding $2.39 billion bid for a majority stake in Vodafone Egypt.

Sources speaking to Bloomberg did not state a direct reason why for the request of a reduction. However, the deal saw multiple setbacks due to the Covid-19 (coronavirus) pandemic.

An attempt to secure a £2 billion loan for the acquisition was [put on ice](https://developingtelecoms.com/telecom-business/operator-news/9409-stc-shelves-talks-for-financing-vodafone-egypt-deal.html), and the deadline to complete the deal was [extended twice](https://developingtelecoms.com/telecom-business/9759-sale-of-vodafone-egypt-stake-to-stc-is-delayed-again.html) with STC citing logistical challenges and desire to carry out proper due diligence for the multi-billion dollar purchase.

STC [signed a memorandum of understanding](https://developingtelecoms.com/telecom-business/operator-news/9147-stc-to-buy-majority-holding-in-vodafone-egypt.html) (MoU) in January to acquire Vodafone Group’s 55% stake in its Egypt unit. State-owned Telecom Egypt holds the remaining 45% stake in the operator and prior to STC’s announcement, [refuted it was in discussions](https://developingtelecoms.com/telecom-business/operator-news/9135-telecom-egypt-to-retain-vodafone-stake.html) to sell its share.

With STC’s valuation, Vodafone Egypt has an enterprise value of $4.35 billion. Vodafone Egypt is the largest operator in the country with more than 40 million mobile connections.

 

 

   
## More Articles you may be Interested in...

<!-- AI:SCHEMA: Schema.org description of canonical page in JSON-LD format -->
<!-- AI:SCHEMA:BEGIN format=jsonld scope=page -->

```json
{
    "@context": "http:\/\/schema.org",
    "@graph": [
        {
            "@type": "Article",
            "author": {
                "@id": "https:\/\/www.essential-reading.com\/#manny_pham_133554b7e2"
            },
            "dateModified": "2020-09-08T10:48:17Z",
            "datePublished": "2020-09-08T10:44:56Z",
            "description": "Saudi Arabian operator STC was reportedly in negotiations to reduce its non-binding $2.39 billion bid for a majority stake in Vodafone Egypt.",
            "headline": "STC seeks price cut for Vodafone Egypt",
            "image": [
                {
                    "@type": "ImageObject",
                    "url": "https:\/\/developingtelecoms.com\/images\/stories\/Places\/Cairo_Tower_view_600.jpg",
                    "caption": "",
                    "description": "STC seeks price cut for Vodafone Egypt",
                    "width": 600,
                    "height": 450
                }
            ],
            "inLanguage": "en-GB",
            "mainEntityOfPage": {
                "@type": "WebPage",
                "url": "https:\/\/www.essential-reading.com\/telecom-business\/operator-news\/9965-stc-seeks-price-cut-for-vodafone-egypt.html"
            },
            "publisher": {
                "@id": "https:\/\/www.essential-reading.com\/#defaultPublisher"
            },
            "url": "https:\/\/www.essential-reading.com\/telecom-business\/operator-news\/9965-stc-seeks-price-cut-for-vodafone-egypt.html"
        },
        {
            "@type": "Person",
            "name": "Manny Pham",
            "@id": "https:\/\/www.essential-reading.com\/#manny_pham_133554b7e2"
        },
        {
            "@id": "https:\/\/www.essential-reading.com\/#defaultPublisher",
            "@type": "Organization",
            "url": "https:\/\/www.essential-reading.com\/",
            "logo": {
                "@id": "https:\/\/www.essential-reading.com\/#defaultLogo"
            },
            "name": "Developing Telecoms"
        },
        {
            "@id": "https:\/\/www.essential-reading.com\/#defaultLogo",
            "@type": "ImageObject",
            "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/dt-site-logo-440.png",
            "width": "440",
            "height": "122"
        }
    ]
}
```

<!-- AI:SCHEMA:END -->