The Egyptian mobile market is not the only market that Vodafone Group decided exit from recently, as the group previously exited several other global markets within the past two years.
Nicholas Reed, CEO of Vodafone Global Group, met with Prime Minister Mustafa Madbouly and Amr Talaat, Minister of Communications and Information Technology, to inform them of Vodafone’s global intention to sell its shares in Vodafone Egypt to the Saudi company.
Reed confirmed that the reason behind leaving Egypt is to focus investments in other markets according to Vodafone’s strategy, stressing that the Egyptian market was among the best in which Vodafone has worked in for more than 20 years.
During the past few years, Vodafone exited a number of international markets, some of which through mergers with other companies or by selling shares to other competitors. The most prominent markets that Vodafone exited from were Japan and Sweden, in addition to the American market. Vodafone is considered one of the largest telecommunications providers in the world. The English company decided to leave America due to a disagreement on the company’s trade name during its partnership with Verizon Communications. In the past two years, the company also left New Zealand, Malta, and India.