Vodafone Egypt has begun transferring the management of a number of its stores to its agents, under the franchise system, while maintaining main branches at large malls under its direct management.
According to a company source, the franchising is being made in line with a strategy that the company has been implementing for some time. It seeks to maximise the use of its stores located in various governorates.
On the other hand, the Saudi Telecom Company (STC) has earlier signed a memorandum of understanding (MoU) with the Vodafone International Group to acquire, for about $2.4bn, the latter's 55% stake in its Egypt operations.
On 13 April, STC announced the MoU's extension for a period of 90 days, due to the need for more time to complete procedures related to the deal. Work on the takeover bid had been suspended in light of the novel coronavirus (COVID-19) pandemic.