By: Amr Adel
Dubai – Mubasher: Sky Telecom Group intends to acquire an Egyptian electronic trading platform, as part of a future expansion plan, the telecom company’s CEO Ali Kassab has said on Tuesday.
The transaction is expected to be completed before the end of this year, Kassab told Mubasher on the sidelines of Gitex Shopper in Dubai.
The CEO declined to disclose the value of the deal, but noted that the platform’s daily trades exceeded 1 million transactions.
Sky Telecom’s investments in the Egyptian market are valued at EGP 1 billion over three years.
The Dubai-based company is an e-platform for information technology and communications providers. In February, it signed a partnership deal with Egypt’s E-Finance to launch the largest digital platform for e-commerce and payments in Egypt. Sky Telecom is also the owner of the UAE’s MySky.
Translated by: Julian Nabil
