Edition:
United Kingdom

Telecom Egypt Co SAE (ETEL.CA)

ETEL.CA on Cairo Stock Exchange

11.22EGP
1:29pm BST
Change (% chg)

£0.15 (+1.36%)
Prev Close
£11.07
Open
£11.00
Day's High
£11.25
Day's Low
£10.92
Volume
397,193
Avg. Vol
1,396,925
52-wk High
£17.50
52-wk Low
£10.23

Latest Key Developments (Source: Significant Developments)

Telecom Egypt Board Approves Acquisition Of 50 Pct Of Its Unit EISCC
Saturday, 22 Sep 2018 

Sept 23 (Reuters) - TELECOM EGYPT ::SAYS BOARD APPROVES ACQUISITION OF 50 PERCENT OF ITS SUBSIDIARY EGYPTIAN INTERNATIONAL SUBMARINE CABLE COMPANY (EISCC) FOR $15 MILLION.  Full Article

Bharti Airtel, Telecom Egypt Partner For Global Submarine Cable Systems
Monday, 6 Aug 2018 

Aug 6 (Reuters) - Bharti Airtel Ltd ::SAYS CO AND TELECOM EGYPT ANNOUNCE STRATEGIC PARTNERSHIP FOR GLOBAL SUBMARINE CABLE SYSTEMS.GETS RIGHT TO USE FIBER PAIRS OF MENA CABLE FROM EGYPT TO INDIA WITH ACCESS TO SAUDI ARABIA, OMAN, FIBER PAIRS FROM EGYPT TOWARDS ITALY.  Full Article

Telecom Egypt And Orange Egypt Sign Three Agreements
Tuesday, 10 Jul 2018 

July 10 (Reuters) - TELECOM EGYPT CO ::TELECOM EGYPT AND ORANGE EGYPT SIGN RENEWAL OF INTERNATIONAL TELECOM SERVICES AGREEMENT, WHICH WAS SIGNED IN JANUARY 2015 FOR A PERIOD OF FOUR YEARS.NEW AGREEMENT WILL END IN DECEMBER 2022 AND IS EXPECTED TO CONTRIBUTE ABOUT EGP 4 BILLION TO TELECOM EGYPT’S TOP-LINE OVER TENURE OF AGREEMENT.TWO COMPANIES ALSO SIGNED A NEW TRANSMISSION SERVICES AGREEMENT FOR 3.5 YEARS ENDING DECEMBER 2021.AGREEMENT IS EXPECTED TO CONTRIBUTE ABOUT EGP 1.5 BILLION TO TELECOM EGYPT’S REVENUE.TWO COMPANIES SIGNED A BINDING LETTER OF AGREEMENT FOR MOBILE TERMINATION RATES.AGREEMENT FORMALIZES FRAMEWORK FOR INTERCONNECTION BETWEEN BOTH OPERATORS AND IS A MAJOR STEP FOR TELECOM EGYPT TOWARDS FINALIZING ALL MOBILE TERMINATION AGREEMENTS.  Full Article

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

REFILE-Telecom Egypt to raise $500 mln syndicated loan led by UAE banks

DUBAI, Aug 13 Telecom Egypt, the country's largest internet provider, is raising a $500 million syndicated loan for capital and operating expenditure, according to a statement from banks leading the transaction.