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Telecom Egypt Co SAE (ETEL.CA)

ETEL.CA on Cairo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Telecom Egypt Signs SPA For Acquisition Of MENA Cable
Monday, 21 May 2018 

May 21 (Reuters) - TELECOM EGYPT CO ::SUBSIDIARY, EGYPTIAN INTERNATIONAL SUBMARINE CABLES COMPANY (EISCC) EXECUTED SPA AGREEMENT WITH OTMT HOLDING FOR PURCHASE OF OTMT'S SHAREHOLDING OF ITS SUBSIDIARY MENA CABLE FOR TOTAL VALUE OF $90 MILLION.THE TRANSACTION AIMS TO BE CONCLUDED IN 60 DAYS, AFTER FULFILLMENT OF ALL CONDITIONS PRECEDENTS.EISCC'S FINANCIAL ADVISERS INCLUDE KPMG AND FIRST CAPITAL FINANCIAL ADVISORY.DECISION TO ACQUIRE MENA CABLE IS IN LINE WITH CO'S STRATEGY TO ACHIEVE SHORT-TERM RETURN FROM INVESTMENT, PRESERVE REVENUE STREAM OF SUBMARINE CABLE SYSTEMS.  Full Article

Egypt's OTMT Announces Sale Of MENA Cable
Friday, 18 May 2018 

May 21 (Reuters) - ORASCOM TELECOM MEDIA AND TECHNOLOGY HOLDING ::ANNOUNCES SALE OF MIDDLE EAST AND NORTH AFRICA SUBMARINE CABLE.DECISION TO DIVEST MENA COMES IN LINE WITH OTMT’S STRATEGY IN DIVESTING ITS NON - CORE ASSETS.INTENDS TO UTILIZE PROCEEDS OF SALE OF MENA IN RECENTLY EXPANDED LINES OF OPERATIONS BEING MAINLY FINANCIAL, REAL ESTATE, AGRIINDUSTRIES, ENTERTAINMENT AND LOGISTICS SECTORS.  Full Article

Telecom Egypt Signs Settlement with Etisalat Misr
Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - TELECOM EGYPT CO ::REACHES FINAL SETTLEMENT AGREEMENT WITH ETISALAT MISR IN REGARDS TO A DISPUTE ON INTERNATIONAL CALLS SERVICES.SETTLEMENT COVERS AMOUNTS RELATING FROM START OF RENDERING SERVICES TO ETISALAT MISR AND UNTIL 13 JUNE 2017.ACCORDING TO SETTLEMENT, TELECOM EGYPT WILL PAY $48 MILLION TO ETISALAT MISR TO MITIGATE EXPOSURE OF MORE THAN $100 MILLION.  Full Article

Telecom Egypt Board approves 2018 budget‍​
Thursday, 28 Dec 2017 

Dec 28 (Reuters) - TELECOM EGYPT CO ::EXPECTS 2018 TOTAL REVENUE GROWTH IN RANGE OF HIGH SINGLE DIGIT TO LOW DOUBLE DIGIT, CAPEX TO SALES RATIO OF 30 PERCENT.EXPECTS 2018 EBITDA MARGIN IN MID TO HIGH TWENTIES‍​.  Full Article

Telecom Egypt and Orange Egypt Settle Legal Disputes
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - TELECOM EGYPT CO ::CO AND ORANGE EGYPT REACH FINAL SETTLEMENT AGREEMENT OF ONGOING DISPUTES BETWEEN BOTH COMPANIES.AS PER DEAL, CO AND ORANGE EGYPT WILL SETTLE ALL PENDING DISPUTES RELATED TO INTERCONNECTION, INFRASTRUCTURE, INTERNATIONAL GATEWAY SERVICES.SETTLEMENT AGREEMENT WILL LEAD TO NET POSITIVE CASH FLOW TO TELECOM EGYPT OF EGP 74 MILLION.  Full Article

Orange Egypt to sign settlement agreement with Telecom Egypt
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - ORANGE EGYPT FOR TELECOMMUNICATIONS ::BOARD APPROVES TO SIGN SETTLEMENT AGREEMENT WITH TELECOM EGYPT ON DISPUTE OVER LOCAL AND INTERNATIOANL CONNECTIVITY, INFRASTRUCTURE SERVICES.AS PART OF SETTLEMENT WITH TELECOM EGYPT COMPANY TO PAY EGP 72 MILLION.  Full Article

Telecom Egypt Q3 consol profit rises
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - TELECOM EGYPT CO ::Q3 CONSOL NET PROFIT AFTER TAX EGP 1 BILLION VERSUS EGP 866 MILLION YEAR AGO.Q3 CONSOL REVENUE EGP 4.43 BILLION VERSUS EGP 3.30 BILLION YEAR AGO.NINE-MONTH CAPEX EXCLUDING LICENSE FEES AMOUNTED TO EGP 3.3 BILLION COMPARED TO 1.6 BILLION LAST YEAR‍​.  Full Article

Telecom Egypt renews international wholesale service agreement with Vodafone
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - TELECOM EGYPT CO SAE :ANNOUNCES SIGNING RENEWAL OF LONG-TERM AGREEMENT WITH VODAFONE EGYPT TO PROVIDE INTERNATIONAL CALL CONVEYANCE SERVICES.THE AGREEMENT WILL TAKE EFFECT FROM SEPTEMBER, 2017, AND EXTENDS TO YEAR-END 2022.AGREEMENT IS EXPECTED TO REPRESENT TOTAL VALUE FOR TELECOM EGYPT OF APPROXIMATELY EGP 12 BILLION THROUGHOUT AGREEMENT TERM.  Full Article

Telecom Egypt says no decision yet on Vodafone Egypt stake sale
Tuesday, 13 Dec 2016 

Telecom Egypt Co Sae : Says not yet decided to sell 45 percent stake in Vodafone Egypt as co is still considering all available options Source: (http://bit.ly/2hyCKud) Further company coverage: [ETEL.CA] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Egypt 4G and fixed-line licence fees worth $495 mln -telecom regulator
Thursday, 13 Oct 2016 

Orange Egypt For Telecommunications Sae : Egypt 4G and fixed-line licence fees worth $495 million -telecom regulator .Egypt 4G licence fee alone worth $484 mln - telecom regulator.  Full Article

Egypt state telecoms firm to provide mobile services abroad - minister

CAIRO, June 1 State landline monopoly Telecom Egypt will provide mobile phone services in a foreign country by the end of 2018, Communications Minister Yasser El Kady told reporters on Friday.