According to media reports this week, the Qatar Investment Authority (QIA), the Gulf state's premier sovereign wealth fund, is seeking permission from Egypt's National Telecom Regulatory Authority to purchase up to 45% strategic stake in Vodafone Egypt, a subsidiary of the Vodafone Group Public Limited Company (LSE:VOD), owned by majority state-owned Telecom Egypt Company (CASE:ETEL), the fully integrated national telecom operator. Telecom Egypt's share in Vodafone Egypt has previously been estimated to be worth $2.5 billion. A previous deal with Saudi Arabia's Public Investment Fund fell through in 2020.