MNOs take alternative 4G proposal to cabinet, TE, EFG Hermes in talks to assess future of Vodafone Egypt stake
MOBILE OPERATORS are appealing 4G imbroglio to cabinet: Vodafone Egypt, Etisalat Misr and Orange Egypt will appeal to cabinet for awards of 4G spectra. Industry sources report that the three operators will submit a letter outlining why they refused to bid in the last round supervised by the National Telecommunications Regulatory Authority, Al Borsa reports. The move comes just two days after Telecom Egypt submitted a formal bid to acquire the unclaimed 4G spectra that would have been sold to the three existing MNOs.
Meanwhile, Al Mal has picked up chatter that EFG Hermes would like to see whether TE wants to engage its services to sort out the fate of TE’s 45% stake in Vodafone Egypt. EFG Hermes and Lazard Asset Management jointly won a tender in 2014 to assess the state-owned giant’s investment holdings as part of its strategy to become an integrated telecom operator. TE now maintains that its stake in Vodafone Egypt does not create a conflict of interest as Vodafone Egypt didn’t bid for a 4G licence.