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Press Releases

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Telecom Egypt obtains US$200 million long-term financing with Chinese financial institutions facilitated by Huawei

30 May 2018
Telecom Egypt and Huawei announced the signing of a US$200 million long-term financing with Chinese financial institutions including the Bank of China and China Export & Credit Insurance Corporation (Sinosure). Huawei facilitated providing competitive financing conditions to Telecom Egypt to finance the roll-out of the 4G network and the deployment of transmission and core networks

Signature of SPA for the acquisition of MENA Cable

21 May 2018
Telecom Egypt announces that its 50% owned subsidiary, Egyptian International Submarine Cables Company (EISCC), has executed a Sale and Purchase Agreement with Orascom Telecom Media and Technology Holding S.A.E (“OTMT) for the purchase of OTMT’s shareholding of its subsidiary Middle East and North Africa Submarine Cable (“MENA”)

Telecom Egypt signs US$200 million financing deal with African Export-Import Bank managed by ADIB Egypt

21 May 2018
Telecom Egypt and Abu Dhabi Islamic Bank – E (ADIB - Egypt) announced the signing of a US$200 million short-term facility from the African Export-Import Bank (AFREXIMBANK) to finance working capital and investments in Telecom Egypt’s infrastructure. ADIB in its capacity as general coordinator and financing consultant served as the financial advisor for the short-term facility.

Approval on acquisition of MENA Cable by a subsidiary and obtaining long-term USD facilities

10 May 2018
Telecom Egypt announces that its Board of Directors today approved two strategic decisions to increase its return on investment, and provide the liquidity to facilitate the implementation of its business plan.

Q1 2018 results: a strong start for the new total telecom operator

10 May 2018
Telecom Egypt today announced its results for Q1 2018 ending 31 March 2018 starting the year on a strong footing to deliver on its business objectives and meet the guidance for the full year.

Telecom Egypt announces a potential submarine cable investment opportunity and accordingly approves the amendment of its FY 2017 dividend proposal

27 March 2018
In light of an arising investment opportunity in the submarine cable industry that is expected to maximize the company’s returns from the cable business and ensure the continuation of the current revenue stream, the board of directors determined to reduce the earlier proposed dividend for FY 2017 to EGP 0.25 from EGP 1 per share.

Telecom Egypt reports double digit growth across its 2017 P&L

05 March 2018
Telecom Egypt announced today its full year results for 2017 reporting strong growth in revenue of 33% yoy. EBITDA grew 36% and net profit 18% yoy In addition, management proposed a dividend of EGP 1 per share in line with 2016

Telecom Egypt signs agreement with Orange Data to provide bitstream services

20 February 2018
Telecom Egypt (Ticker: ETEL.CA; TEEG.LN) announces signing an agreement with Orange Data to provide infrastructure and transmission services for three years.

Telecom Egypt signs Transmission and Infrastructure Agreement with Vodafone Egypt

05 February 2018
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.

Telecom Egypt signs Settlement with Etisalat Misr

23 January 2018
Telecom Egypt (Ticker: ETEL.CA; TEEG.LN) announces that it has reached a final settlement agreement with Etisalat Misr in regards to a dispute on international calls services. The settlement covers amounts relating from the start of rendering services to Etisalat Misr and until 13 June 2017.

Investor Relations adapting the "WE" approach by launching a new portal

22 January 2018
Telecom Egypt (Ticker: ETEL.CA; TEEG.LN) announces today the revamping of the Investor Relation website. The aim of new Investor Relations Portal today is to offer a new experience to the investor and analyst community that matches our new brand values of being closer to our customers. Our new brand “WE” launched in September with the debut of mobile services puts our customers first across all platforms and services.