Telecom Egypt may not exit Vodafone stake after landing new licence -CEO

Egypt's fixed-line monopoly Telecom Egypt said on Wednesday it may not sell its 45 percent stake in mobile operator Vodafone Egypt once it receives a licence to offer its own mobile services.

The Egyptian government, which owns 80 percent of Telecom Egypt, has said that for competition reasons the company would need to exit Vodafone Egypt once it has the new unified fixed-line and mobile licence, which it expects to get in coming months.

Chief Executive Mohamed Elnawawy, however, said the company had "not been notified of any exit date" and could look at alternative options such as a taking a controlling stake in Vodafone, if the government approved.