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Orange Egypt agrees 500 mln euro loan from parent for 4G licence
November 7, 2016 / 7:47 AM / 10 months ago

Orange Egypt agrees 500 mln euro loan from parent for 4G licence

CAIRO, Nov 7 (Reuters) - Telecommunications firm Orange Egypt has agreed on a 500 million euro ($553 million) loan from its parent company to cover the cost of a licence that will let it operate fourth-generation mobile phone services, the company said on Monday.

The loan matures in December 2020 and will have an interest rate of 7 percent, the statement said. Orange Egypt is a subsidiary of French group Orange. (Reporting by Ehab Farouk; Writing by Asma Alsharif; Editing by Andrew Torchia)

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