Telecom Egypt Agrees to Buy MVNO License
Published on: 7th May 2014
Note -- this news article is more than a year old.
Telecom Egypt has agreed to a government demand to pay EGP2.5 billion (USD355 million) for an MVNO license, and will enter into negotiations with the other mobile networks to secure the necessary wholesale access.
The company said in a statement that its "strong financial performance and positive cash position will make us capable of paying the Total Telecom License (TTL) fees without any external sources of finance. "
It has long been expected that the wholesale agreement will be with Vodafone, as Telecom Egypt owns a 45% in the local mobile network operator.
That stake may have to be sold though, if, as expected, Telecom Egypt bids to become a full mobile network operator when the government auctions off 4G spectrum in 2016.