DUBAI, July 12 (Reuters) - Saudi Arabia's largest telecoms
operator Saudi Telecom Co (STC) said on Sunday it
would need another two months to complete the purchase of
Vodafone Group's 55% stake in Vodafone Egypt.
STC signed a non-binding agreement in January to buy the
majority stake for $2.4 billion, but extended the process in
April by 90 days, citing logistical challenges caused by the
coronavirus pandemic.
In a statement, STC said it was extending this period again
until September for the same reasons.
Vodafone Egypt is the country's biggest mobile operator with
44 million subscribers and a 40% market share.
STC is majority owned by Saudi Arabia's state fund the
Public Investment Fund (PIF).
(Reporting by Alexander Cornwell
Editing by Raissa Kasolowsky)