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

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Telecom Egypt : mobile concession not expected to be awarded until 2016

07/02/2015 | 10:55am US/Eastern

Telecom Egypt is now not expected to acquire a concession allowing it to enter the mobile sector under its own steam until 2016, Reuters reports, citing comments made by the Egyptian communications minister. Despite the authorities having approved the country's planned unified licence regime in late-2014, thus paving the way for Telecom Egypt to launch its own mobile products, in May 2015 the fixed line incumbent's then chief executive had said his company was hoping to have been handed the new licence this year. Now, however, communications minister Khaled Ali Negm has been quoted as saying of the proposed unified concession: 'It is expected ... that the licence will be given to the company during 2016.'

(c) 2015 PriMetrica, Inc. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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