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Vodafone ends talks to sell Egypt stake to Saudi STC

LONDON, Dec 21 (Reuters) - Vodafone has ended talks with Saudi Telecom Company on the sale of its 55% shareholding in Vodafone Egypt, the British telecoms group said on Monday.

STC, the kingdom’s biggest telecom operator, had struck a preliminary deal in January to buy the stake for $2.4 billion, as it sought growth in the Arab world’s most populous nation.

The London-listed telecoms firm had said in September that it remained in talks to finalise the deal in the near future despite the expiry of an initial memorandum of understanding.

Reporting by Keith Weir; editing by Jason Neely

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