The country is on its way to reform the telecom sector
August 1, 2016: Telecom Egypt (TE), the state-owned landline company, said its board had tentatively approved plans to buy a fourth-generation mobile license and a company official said it would offer the services within a year of obtaining frequencies.
Egypt is selling four 4G licenses as part of a long-awaited plan to reform the telecom sector.
The reforms will allow Telecom Egypt to enter the market directly and clear the road ahead for Egypt’s three mobile operators – Orange Egypt EMOB.CA, Vodafone Egypt, and Etisalat — to offer fixed-line services. This will end the Telecom Egypt’s monopoly.
TE said in a statement on the stock exchange website that its board of directors had given its preliminary approval on July 28 and a full study of the 4G license plan would now be presented to the investment committee.
The operators have until the first week of August to submit responses.
The company’s shares were traded on the Egyptian Stock Exchange at 9.25 pounds, up by 1.3 per cent.