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FINANCIAL NEWS
Egypt’s Orange net losses fall by 63.3 percent
25 Jul 2016
(MENAFN) Orange Egypt net losses showed a decline of 63.3 percent for 2016, while its net losses in the Jan-June period went down to USD3.75mn.
Meanwhile, the firm’s revenues grew by almost 2.2 percent, reaching USD0.65bn in the cited half of the year, compared to USD0.63bn in 2015.
Accordingly, the company proclaimed that it will have to pay USD0.39bn for the 4G license on mobile phones, while half of the fees have to be paid in US dollars.
The firm is recently discussing with its parent firm to finance the 4G license and will not acquire local loans or credit facilities.
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