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Thursday, 11 November 2021

Last Night’s Talk Shows on Vodafone Egypt selling its majority stake + the cabinet’s meeting

Talk shows got businessy last night discussing the selling of Vodafone Group’s majority stake in Vodafone Egypt, which will be sold to Vodacom Group for some EUR 2.7 bn. We don’t have to worry about the iconic red mobile network going anywhere: Vodafone Egypt will maintain its identity post acquisition, from its name to its logo, and will continue to service its users, Mohamed Ibrahim, executive director at the National Telecom Regulatory Authority (NTRA), told Yahduth Fi Masr (watch, runtime: 2:36).

The regulator is studying the sale: Vodafone Egypt has come forward to the NTRA with its intent to sell and the authority will study the move from the legal and regulatory aspects before coming to a decision. The authority will look into Vodacom’s strategic plans in Egypt in the coming period and the acquiring company’s ability to ensure that users will continue to receive top notch service, Ibrahim told Ala Mas’ouleety (watch, runtime: 5:56), who also virtually hosted Vodafone Egypt’s external relations director, Ayman Essam (watch, runtime: 10:14).

The cabinet’s latest meeting was also a major talking point: Amendments to the Real Estate Registry Act and the Income Tax Act which were approved during yesterday’s cabinet meeting were covered and discussed all over: Masaa DMC (watch, runtime: 10:56), Al Hayah Al Youm (watch, runtime: 10:38) and Ala Mas’ouleety (watch, runtime: 6:24). Real Estate Registry and Notarization head Gamal Yaqout told Yahdoth Fi Masr (watch, runtime: 4:42) that these amendments come in line with the state’s digital transformation. The amendments separated the taxation process from the home registration process making them parallel to each other. Yaqout said that the Real Estate Registry Act will be seeing a total revamp, with a number of articles deleted, some added and some amended.

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