Vodafone considers Egyptian stake sale

LONDON, UK: Vodafone Group Plc is in talks about a possible disposal of its majority stake in its Egyptian unit, the Financial Times reported in its Friday edition.

Telecom Egypt has approached Vodafone about buying out the UK mobile operator's 55 percent stake in Vodafone Egypt, the FT said, citing people familiar with the situation.

The paper said discussions over the company's future began one month ago, but that no decisions between the two parties had been reached.

Vodafone and Telecom Egypt could not immediately be reached for comment.

Earlier this month landline monopoly Telecom Egypt said it was seeking to enter the competitive mobile market, which has eaten into its revenue.