DUBAI, April 13 (Reuters) - Saudi Telecom Co (STC)
, the kingdom's biggest telecoms operator, said on
Monday it needed more time to complete processes related to a
planned deal to buy Vodafone Group's 55% stake in Vodafone
Egypt.
Saudi Telecom in January struck a preliminary deal to buy
the stake for $2.4 billion, seeking growth in the Arab world’s
most populous nation.
STC said it had extended its memorandum of understanding
with Vodafone Group for 90 days and attributed the reason for
the delay to logistical challenges caused by the novel
coronavirus pandemic.
(Reporting by Hadeel Al Sayegh; Editing by Kirsten Donovan)