CAIRO, Jan 28 (Reuters) - Vodafone Group is to sign a memorandum of understanding with Saudi Telecom for the possible sale of a stake in Vodafone Egypt, the Egyptian cabinet said in a statement on Tuesday.
The announcement came after a visit to Egypt by Vodafone CEO Nick Read. Vodafone Group holds a 55% stake in Vodafone Egypt, with the remaining 45% held by Telecom Egypt.
Telecom Egypt said on Sunday it had no intention of selling its stake.
(Reporting by Moamen Said Atallah Writing by Aidan Lewis Editing by Chris Reese)