Sept 14 (Reuters) - Vodafone Group said on Monday due diligence regarding the potential sale of its 55% stake in its Egyptian unit to Saudi Telecom Co (STC) had been “substantively” completed.
The London-listed telecom firm said that despite the expiry of a memorandum of understanding, the company remains in talks with STC to finalise the transaction in the near future. (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Saumyadeb Chakrabarty)
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.