From https://electrum.org/download.html:
Where it says:
sudo apt-get install python-pip python-qt4 pyqt4-dev-tools
There should be added the package: python-pyasn1 (or install it through pip)
Where it says:
pyrcc4 icons.qrc -o gui/icons_rc.py
It should say:
pyrcc4 icons.qrc -o gui/qt/icons_rc.py