Telecom Egypt (Ticker: ETEL.CA; TEEG.LN) announces signing a wholesale agreement with Vodafone Egypt to provide transmission and infrastructure services. The agreement will take effect from January 2018 for three year ending 2021. The agreement guarantees a minimum revenue of EGP 2.37bn for Telecom Egypt over the tenure of the agreement, while Vodafone Egypt will benefit from new technical and commercial terms. The agreement was signed by Telecom Egypt’s CEO Ahmed El Beheiry and Mr. Alexander Froment-Curtil, Vodafone Egypt’s CEO. This agreement represents a new step to maximize the commercial cooperation between the two companies and confirms the importance of partnership as the key driver to ensure the continuation of such cooperation between the two parties.

 Ahmed El Beheiry, Telecom Egypt’s Managing Director and Chief Executive Officer, commented: 

“We are pleased to sign this agreement, which supports the relationship between the two companies and reflects our eagerness to create strategic bonds with the local operators. Our model of long term agreements guarantees our market leadership in infrastructure and transmission services, especially in light of Telecom Egypt’s huge investment in its infrastructure and our continuous thrive to offer better technical and commercial alternatives to our customers."