Telecom Egypt shares surged to their highest level since February after Vodafone expressed interest in buying the shares it does not already own in Vodafone Egypt, Bloomberg reports. Analysts told Bloomberg that the sale could raise about USD 2 billion for Telecom Egypt. Vodafone is ready to buy the 45 percent stake, an official at the company who sought anonymity said. Buying the share could end a conflict of interest that has arisen after Telecom Egypt applied for an integrated licence allowing it to offer mobile services. The Cairo-based company hasn't received a formal offer, an official said, declining to comment further.
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