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Telecom Egypt Halts Deal with Helios Amid Regulatory Uncertainty

Telecom Egypt Halts Deal with Helios Amid Regulatory Uncertainty

The Egyptian Telecommunications Company announced that it has halted its investment deal with Helios Investment to purchase a stake ranging between 75% and 80% in a data center specialist company. This decision was due to the inability to fulfill certain legal and contractual conditions related to the deal. The company confirmed that it will continue to implement its strategy of creating a fully owned entity for its data center assets to enhance specialization and growth in this vital sector. It also aims to maintain ongoing service delivery and expand its operations within Egypt without incurring any additional financial or operational obligations.

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