- Telecom group Vodafone said due diligence had been 'substantively completed' with regards to a potential sale of its 55% stake in Vodafone Egypt to Saudi Telecom.

Vodafone said it remained in talks with Saudi Telecom despite the expiry of a memorandum of understanding signed between the two companies, with a view to sealing the deal in the near future.

'Vodafone now looks to Saudi Telecom and Telecom Egypt to find a suitable agreement to enable the transaction to close,' it added.

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