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4-Traders Homepage  >  Equities  >  CAIRO AND ALEXANDRIA STOCK EXCHANGE  >  Telecom Egypt Company    ETEL   EGS48031C016

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TE Data does not monopolise internet market, but has largest share: chairperson

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11/30/2016 | 06:56pm CET

Accusing TE Data of monopoly is nonsense, said Ahmed Osama, vice president and chief commercial officer of home and personal communications at Telecom Egypt and chairperson and managing director of TE Data.

“We cannot be accused of monopoly because we acquire 70% of the internet market, while the three mobile operators acquire 100% of other communication markets,” he added.

Osama explained that the internet market is bigger than the ADSL market, including mobile internet and USB modems. He noted that TE Data leads the ADSL market with the largest share, while the three mobile operators—Vodafone, Etisalat, and Orange—have the entire mobile and USB modems internet market.

According to Osama, the decline of other companies’ share against TE Data is due to the modernisation of infrastructure, which included changing the copper cables to fibre optics.

“Only TE Data submitted a request to provide internet services via fiber optics, while the other companies stood still,” he said. “This made TE Data the only company that provides internet services through fibre optics.”

TE Data is one of the investments arms of Telecom Egypt.

In a different context, Osama said that the company relies on integrated communication solutions to compete in the mobile market.

He told Daily News Egypt that Telecom Egypt is not worried about competing with other mobile operators. “Let the best company win,” he added.

(c) 2016 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( EGP)
Sales 2016 12 973 M
EBIT 2016 1 982 M
Net income 2016 3 131 M
Debt 2016 314 M
Yield 2016 7,52%
P/E ratio 2016 5,64
P/E ratio 2017 5,84
EV / Sales 2016 1,36x
EV / Sales 2017 1,34x
Capitalization 17 361 M
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 11,2  EGP
Spread / Average Target 10%
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Managers
NameTitle
Tamer Gadalla Chief Executive Officer, Director & MD
Maged Ibrahim Osman Chairman
Mohamed Hassan Shamroukh Chief Financial Officer, Director & Vice President
Ahmed Mohammed Jamal Abou Ali Independent Director
Eskander Adel Eskander Tooma Director
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