FINANCIAL NEWS

Telecom Egypt signs 4G licensing deals at EGP7.08b

01 Sep 2016

(MENAFN) The National Telecoms Regulatory Authority (NTRA) signed with Telecom Egypt (TE) the licensing and operation deal of 4G mobile phones services for EGP7.08b.

Accordingly, the new licensing allows TE to provide 4G services once it is done and will also allow the firm to offer 4G services via its new frequencies.

Additionally, the NTRA confirmed the regulatory framework of the Egyptian communications market, which involves offering 4G services.

The license is estimated at EGP7.08b, which part of it will be paid directly and it is estimated at EGP5.2bn with 50 percent paid in Egyptian pounds and the remainder in US dollars.

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