March 28, 2018 / 6:11 AM / 4 months ago

BRIEF-Telecom Egypt Amends Proposed FY Dividend On Potential Investment

March 28 (Reuters) - TELECOM EGYPT CO:

* ANNOUNCES A POTENTIAL SUBMARINE CABLE INVESTMENT OPPORTUNITY

* BOARD OF DIRECTORS DETERMINED TO REDUCE EARLIER PROPOSED DIVIDEND FOR FY 2017 TO EGP 0.25 FROM EGP 1 PER SHARE

* EXPECTS TO MAXIMIZE CO’S RETURNS FROM CABLE BUSINESS AND ENSURE CONTINUATION OF CURRENT REVENUE STREAM

* AMENDMENT OF DIVIDEND FOR FY-17 IS INTENDED TO AVAIL SHORT-TERM FINANCING TO INVESTMENT OPPORTUNITY CRUCIAL FOR CONTINUATION OF REVENUE STREAM OF CABLE BUSINESS Source text for Eikon: Further company coverage:

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