Telecom Egypt S Regulatory News (TEEG)

12 Jun 2006 07:02

Telecom Egypt S.A.E12 June 2006 Telecom Egypt's Consortium with Telecom Italia Advances to the Final Stages of the Egyptian Third Mobile License Tender Cairo, 12 June 2006: Telecom Egypt (TE) (Ticker: ETEL.CA; TEEG.LN) announcedtoday that its consortium with Telecom Italia has been qualified by the NationalTelecommunications Regulatory Authority (NTRA) for the technical component ofits bid for Egypt's third mobile license. The consortium is one of nineconsortia that will now progress to the final round of considerations bysubmitting a financial proposal and going through a financial auction. Telecom Egypt announced in May that it had formed a consortium with TelecomItalia, with TE as the majority owner, to participate in the tender. The twocompanies worked closely in preparing a joint technical proposal and will nowsubmit a joint financial proposal. Commenting on the company's bid, Chairman of Telecom Egypt, Akil Beshir, said, "Having been deemed technically qualified by the NTRA is a great endorsement ofthe partnership we have formed with Telecom Italia, which we believe to be anideal mix of strong local market knowledge coupled with extensive technical andcommercial experience. I would also like to stress that financially we are ingood shape moving into the final round of considerations." Telecom Egypt currently participates in the growing mobile segment in Egyptthrough its strategic 25.5% shareholding stake in Vodafone Egypt, one of the twoEgyptian mobile operators, which has been a very successful and profitableinvestment that achieved strong financial results for TE. - Ends - For further information: Investor Relations Contacts Tarek Tantawy, CFA Director; Investment, Treasury & Investor RelationsTelephone: +202 5788111Fax: +202 5789314 Eman AnisAssistant Manager; Investor RelationsTelephone: +202 5788787Fax: +202 5789314 E-mail: investor.relations@telecomegypt.com.eg Notes to Editors: About Telecom Egypt Telecom Egypt (TE), Egypt's incumbent telecommunications operator, started itsoperations in 1854 with the first telegraph line in Egypt. Then it wascorporatized in 1998 to replace the former Arab Republic of Egypt NationalTelecommunication Organization (ARENTO). The Company is the largest provider offixed-line services in the Middle East and Africa with more than 10.5 millionsubscribers as at the end of March 2006 representing a teledensity of 14.7percent. TE provides retail telecommunication services including access, local, longdistance and international voice, Internet and data, and other services. Thecompany also provides wholesale services including bandwidth capacity leasing toISPs, and national and international interconnection services. Telecom Egypt'sservices also include the provision of narrowband and broadband internet accessthrough its subsidiary TE Data. TE Data has current operations in Egypt, Jordan,and Dubai and has ambitious plans in other parts of the MENA region. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on theCairo and Alexandria Stock Exchanges and the London Stock Exchange. About Telecom Italia Group The Telecom Italia Group is one of Europe's telecommunications industry leaders.Group activities span the entire advanced communications services chainincluding fixed and mobile telephony, internet, media and innovative businesssolutions and systems through TIM, Telecom Italia Media and Olivetti. TIM, themobile telephony unit, has long been a lead technological innovator in Italy andworldwide. TIM has brought to market third generation technologies, theEDGE-UMTS platform, new high-speed multimedia services and wireless and Internetdata transmission. The Group also promotes research and innovation through thelaboratories of Telecom Italia lab, which develop technologies that improve andenhance the competitiveness of the services the Group provides. This information is provided by RNS The company news service from the London Stock Exchange