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FINANCIAL NEWS
Telecom Egypt to get loans USD720.2mln
24 Jun 2017
(MENAFN) Telecom Egypt, the state-owned landline monopoly announced it will secure a loan of USD720.22mln (13bln EP) to improve its infrastructure and mobile internet.
The company’s Chief Executive confirmed that the board approved the loan conditions and it would be paid over the coming eight years.
However, as Telecom Egypt is the first company to buy 4G license from the government for EP7.08bln, it expects to start offering mobile services in September.
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MENAFN2406201700450000ID1095578102
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