Dec 17 (Reuters) - TELECOM EGYPT CO ::BOARD APPROVES BUDGET FOR THE FISCAL YEAR 2019.SAYS MID TO HIGH SINGLE DIGIT REVENUE GROWTH (EXCL. MENA MID DOUBLE DIGIT).SAYS EBITDA MARGIN IN THE MID TO HIGH TWENTIES.SAYS IN-SERVICE CAPEX TO SALES RATIO OF 30%.SAYS WE EXPECT TO END 2018 BEATING OUR REVENUE GUIDANCE DUE TO MENA ACQUISITION AND BHARTI DEAL.WHILE THIS GENERATED NON-RECURRING REVENUE, WE EXPECT TO CONTINUE TO GROW FROM THIS HIGH BASE IN 2019.
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Sept 23 (Reuters) - TELECOM EGYPT ::SAYS BOARD APPROVES ACQUISITION OF 50 PERCENT OF ITS SUBSIDIARY EGYPTIAN INTERNATIONAL SUBMARINE CABLE COMPANY (EISCC) FOR $15 MILLION.
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Aug 6 (Reuters) - Bharti Airtel Ltd ::SAYS CO AND TELECOM EGYPT ANNOUNCE STRATEGIC PARTNERSHIP FOR GLOBAL SUBMARINE CABLE SYSTEMS.GETS RIGHT TO USE FIBER PAIRS OF MENA CABLE FROM EGYPT TO INDIA WITH ACCESS TO SAUDI ARABIA, OMAN, FIBER PAIRS FROM EGYPT TOWARDS ITALY.
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July 10 (Reuters) - TELECOM EGYPT CO ::TELECOM EGYPT AND ORANGE EGYPT SIGN RENEWAL OF INTERNATIONAL TELECOM SERVICES AGREEMENT, WHICH WAS SIGNED IN JANUARY 2015 FOR A PERIOD OF FOUR YEARS.NEW AGREEMENT WILL END IN DECEMBER 2022 AND IS EXPECTED TO CONTRIBUTE ABOUT EGP 4 BILLION TO TELECOM EGYPT’S TOP-LINE OVER TENURE OF AGREEMENT.TWO COMPANIES ALSO SIGNED A NEW TRANSMISSION SERVICES AGREEMENT FOR 3.5 YEARS ENDING DECEMBER 2021.AGREEMENT IS EXPECTED TO CONTRIBUTE ABOUT EGP 1.5 BILLION TO TELECOM EGYPT’S REVENUE.TWO COMPANIES SIGNED A BINDING LETTER OF AGREEMENT FOR MOBILE TERMINATION RATES.AGREEMENT FORMALIZES FRAMEWORK FOR INTERCONNECTION BETWEEN BOTH OPERATORS AND IS A MAJOR STEP FOR TELECOM EGYPT TOWARDS FINALIZING ALL MOBILE TERMINATION AGREEMENTS.
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May 21 (Reuters) - TELECOM EGYPT CO ::SUBSIDIARY, EGYPTIAN INTERNATIONAL SUBMARINE CABLES COMPANY (EISCC) EXECUTED SPA AGREEMENT WITH OTMT HOLDING FOR PURCHASE OF OTMT'S SHAREHOLDING OF ITS SUBSIDIARY MENA CABLE FOR TOTAL VALUE OF $90 MILLION.THE TRANSACTION AIMS TO BE CONCLUDED IN 60 DAYS, AFTER FULFILLMENT OF ALL CONDITIONS PRECEDENTS.EISCC'S FINANCIAL ADVISERS INCLUDE KPMG AND FIRST CAPITAL FINANCIAL ADVISORY.DECISION TO ACQUIRE MENA CABLE IS IN LINE WITH CO'S STRATEGY TO ACHIEVE SHORT-TERM RETURN FROM INVESTMENT, PRESERVE REVENUE STREAM OF SUBMARINE CABLE SYSTEMS.
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May 21 (Reuters) - ORASCOM TELECOM MEDIA AND TECHNOLOGY HOLDING ::ANNOUNCES SALE OF MIDDLE EAST AND NORTH AFRICA SUBMARINE CABLE.DECISION TO DIVEST MENA COMES IN LINE WITH OTMT’S STRATEGY IN DIVESTING ITS NON - CORE ASSETS.INTENDS TO UTILIZE PROCEEDS OF SALE OF MENA IN RECENTLY EXPANDED LINES OF OPERATIONS BEING MAINLY FINANCIAL, REAL ESTATE, AGRIINDUSTRIES, ENTERTAINMENT AND LOGISTICS SECTORS.
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Jan 23 (Reuters) - TELECOM EGYPT CO ::REACHES FINAL SETTLEMENT AGREEMENT WITH ETISALAT MISR IN REGARDS TO A DISPUTE ON INTERNATIONAL CALLS SERVICES.SETTLEMENT COVERS AMOUNTS RELATING FROM START OF RENDERING SERVICES TO ETISALAT MISR AND UNTIL 13 JUNE 2017.ACCORDING TO SETTLEMENT, TELECOM EGYPT WILL PAY $48 MILLION TO ETISALAT MISR TO MITIGATE EXPOSURE OF MORE THAN $100 MILLION.
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Dec 28 (Reuters) - TELECOM EGYPT CO ::EXPECTS 2018 TOTAL REVENUE GROWTH IN RANGE OF HIGH SINGLE DIGIT TO LOW DOUBLE DIGIT, CAPEX TO SALES RATIO OF 30 PERCENT.EXPECTS 2018 EBITDA MARGIN IN MID TO HIGH TWENTIES.
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Nov 22 (Reuters) - TELECOM EGYPT CO ::CO AND ORANGE EGYPT REACH FINAL SETTLEMENT AGREEMENT OF ONGOING DISPUTES BETWEEN BOTH COMPANIES.AS PER DEAL, CO AND ORANGE EGYPT WILL SETTLE ALL PENDING DISPUTES RELATED TO INTERCONNECTION, INFRASTRUCTURE, INTERNATIONAL GATEWAY SERVICES.SETTLEMENT AGREEMENT WILL LEAD TO NET POSITIVE CASH FLOW TO TELECOM EGYPT OF EGP 74 MILLION.
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Nov 22 (Reuters) - ORANGE EGYPT FOR TELECOMMUNICATIONS ::BOARD APPROVES TO SIGN SETTLEMENT AGREEMENT WITH TELECOM EGYPT ON DISPUTE OVER LOCAL AND INTERNATIOANL CONNECTIVITY, INFRASTRUCTURE SERVICES.AS PART OF SETTLEMENT WITH TELECOM EGYPT COMPANY TO PAY EGP 72 MILLION.
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