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Saudi Telecom says no deal reached on Vodafone Egypt stake

DUBAI, Sept 13 (Reuters) - Saudi Arabia’s largest telecoms operator Saudi Telecom Co (STC) on Sunday said no agreement has been reached to buy a 55% stake in Vodafone Egypt , and that the parties have agreed to keep dialogue open.

In January, STC signed a non-binding agreement to buy the stake for $2.4 billion, extending the offer in April and again in July.

STC ended the second extension “without reaching an agreement to conclude the transaction due to misalignment with relevant parties,” it said in a stock exchange filing. (Reporting by Yousef Saba; Editing by Christopher Cushing)

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