During the TMT Finance Middle East 2010 conference last month, it was stated that the total value of deals in the Middle East and Africa could reach US$30 billion (Dh110.18bn) this year.Vodafone said it might reduce its presence in the Middle East to focus its activities on Europe, sub-Saharan Africa and India.
The first concrete step in this direction was Vodafone’s recent discussions with Telecom Egypt, which was interested in buying Vodafone’s 55 per cent stake in Vodafone Egypt.
While these discussions did not lead to a formal offer, they showed Vodafone’s willingness to eventually divest its stake.
