Telecom Egypt’s board has given preliminary approval for Helios Investments to acquire a majority stake in a subsidiary that will focus on data center development in Egypt. Helios will hold 75% to 80% of the unit, with Telecom Egypt retaining 20% to 25%. The deal values the Regional Data Hub at $230 million, potentially rising to $260 million. Completion is subject to final agreements and restructuring.

Read more at Nasdaq.: Telecom Egypt Board Approves Helios Offer For 75% To 80% Stake In Regional Data Hub