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Vodafone Squeezed in Egypt as State-Backed Partner Turns Rival
CAIRO, Capital Markets in Africa: Vodafone Group Plc is getting squeezed in Egypt as its state-backed partner embarks on a solo push into wireless services — crowding the market with a fourth provider while potentially leaving its U.K.-based ally to fend for itself. To finance its own network, Telecom Egypt may sell its 45 percent stake in an existing venture with Vodafone, according to two analysts who have been briefed by the company. The options range from an initial…
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