DISCUSSIONS ON VODAFONE EGYPT WITH STC TERMINATED

21 December 2020

VODAFONE ANNOUNCES DISCUSSIONS IN EGYPT WITH STC HAVE BEEN TERMINATED

Vodafone announces today that its discussions with Saudi Telecom Company ("stc') regarding the sale of Vodafone's 55% shareholding in Vodafone Egypt have been terminated.

Vodafone Group CEO Nick Read said: "We believe that the Egyptian government is committed to an optimal framework for the telecoms sector, which will enable Vodafone Egypt to deliver on the country's vision of digitization and financial inclusion and create a technology hub to support our growth in the African region."

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Vodafone is a leading telecommunications company in Europe and Africa. Our purpose is to "connect for a better future" and our expertise and scale gives us a unique opportunity to drive positive change for society. Our networks keep family, friends, businesses and governments connected and - as COVID-19 has clearly demonstrated - we play a vital role in keeping economies running and the functioning of critical sectors like education and healthcare.  

Vodafone is the largest mobile and fixed network operator in Europe and a leading global IoT connectivity provider. Our M-Pesa technology platform in Africa enables over 45m people to benefit from access to mobile payments and financial services. We operate mobile and fixed networks in 21 countries and partner with mobile networks in 48 more. As of 30 September 2020, we had over 300m mobile customers, more than 27m fixed broadband customers, over 22m TV customers and we connected more than 112m IoT devices. 

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Vodafone is also taking significant steps to reduce our impact on our planet by reducing our greenhouse gas emissions by 50% by 2025 and becoming net zero by 2040, purchasing 100% of our electricity from renewable sources by 2025, and reusing, reselling or recycling 100% of our redundant network equipment.

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