Telecom Egypt to sign mobile license agreement

Telecom Egypt to sign mobile license agreement

Cairo, August 31, 2016: Telecom Egypt (te) (Ticker: ETEL.CA; TEEG.LN), today announces that it will be signing the final license agreement with the Egyptian National Telecommunications Regulatory Authority (NTRA) to establish, operate and manage a 4G network to offer mobile services in the Egyptian Market.

The signing will take place at an official ceremony which will be held today, 31.08.2016, at 12:00 CLT at the NTRA premises.

We will publish full details of the license agreement immediately after the end of the ceremony. This will be made available via the usual communication channels. 

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About Telecom Egypt

Telecom Egypt (te), Egypt's incumbent telecommunications operator, started its operations in 1854 with the first telegraph line in Egypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organization (ARENTO). The Company is the largest provider of fixed-line services in the Middle East and Africa with 6.3 million subscribers as at 30 June 2016.

te provides retail telecommunication services including access, local, long distance and international voice, Internet and data, and other services. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. Telecom Egypt's services also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has active operations in Egypt and Jordan.

te currently participates in the mobile segment in Egypt by providing mobile interconnectivity through its current, increased 44.95% holding in Vodafone Egypt, one of the three existing Egyptian mobile operators.

te's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on The Egyptian Exchange and the London Stock Exchange.