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Egypt's government sold a 9.5% stake in state-controlled Telecom Egypt ETEL.CA for 3.75 billion Egyptian pounds ($121.6 million), the finance ministry said in a statement on Sunday, breathing life int...
The sale comes as part of the country’s privatisation drive to meet a series of foreign debt obligations.
Egypt desperately needs privatisation proceeds to meet a series of foreign debt obligations over the coming few months.
This is the second sale of state assets since PM Madbouly promised to sell assets worth $2b by June
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Mississippi Today reporter Anna Wolfe won the 2023 Pulitzer Prize for Local Reporting for her investigation “The Backchannel."