Egypt’s state-owned landline monopoly Telecom Egypt will secure a loan of up to $720.22 million (13 billion Egyptian pounds) to improve infrastructure and mobile internet services, Chief Executive Ahmed El Beheiry told Reuters on Thursday.
The board approved the loan conditions on Wednesday, and El Beheiry said it would be paid back over eight years.
Telecom Egypt was the first company to buy a 4G licence from the government in August last year for 7.08 billion Egyptian pounds, and expects to begin offering mobile services in September.
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Telecom Egypt to pay 1 Egyptian pound per share dividend on April 27Telecom Egypt will pay out a dividend of 1 Egyptian pound ($0.0556) per share on April 27, the state-owned landline monopoly said in a statement ... Technology
Vodafone Egypt and Etisalat sign multimillion dollar 4G license agreementsVodafone Egypt and Etisalat Misr signed 4G license agreements with the country’s telecoms regulator for $335 million and $535.5 million respectively Telecoms
Telecom Egypt set to receive 4G mobile license next yearThe government approved the unified license last year, opening the way for Telecom Egypt to offer mobile services Telecoms