Vodafone strengthens their presence in Egypt

Vodafone strengthens their presence in Egypt

Vodafone has shown that they are taking emerging markets seriously as they have just announced their plans to spend up to £108m to increase its controlling stake in Vodafone Egypt.

They would now enhance their share from 50.1 per cent to 55 per cent.

Sources say that the company is also interested in selling its 25 per cent stake in Swisscom Mobile which is the leading mobile service provider in Switzerland. There stake in the company is valued at between $2.4 billion to $3.2 billion.

This would be part of their strategy to get out of the markets where they cannot gain control of the entire operations they are a part of.

Vodafone is facing slowdown in their primary European markets and this is the reason why they are now aiming to expand in growing markets.