Sold Telecom Egypt shares worth $122.8m ALBAWABA – The government of Egypt sold a 9.5 percent stake in Telecom Egypt (ETEL) for an estimated $122.2 million (EGP3.745 billion), Egyptian newspaper al-Ahram reported on May 14. According to a statement by the Ministry of Finance, more than 162 million shares were sold last Thursday, at $0.75 (EGP23.11) per share. The Egyptian government held 80 percent of the telecommunications company’s equity up ...