Telecom Egypt S Regulatory News (TEEG)

Telecom Egypt and Orange sign three agreements for international telecom, transmission, and mobile termination services

Cairo, 9 July 2018: Telecom Egypt and Orange Egypt announced the signing of a renewal of the international telecom services agreement, which was signed in January 2015 for a period of four years. The new agreement will end in December 2022 and is expected to contribute cEGP 4bn to Telecom Egypt's top-line over the tenure of the agreement. It will also enable Orange Egypt to continue providing the best offers and international services to its customers.The two companies also signed a new transmission services agreement for 3.5 years ending December 2021. The agreement is expected to contribute cEGP1.5bn to Telecom Egypt's revenue and support Orange Egypt enhance the services offered to its customers. 

Finally, the two companies signed a binding letter of agreement for mobile termination rates. The agreement formalizes the framework for interconnection between both operators and is a major step for Telecom Egypt towards finalizing all mobile termination agreements.

Ahmed El Beheiry, Telecom Egypt's Managing Director and Chief Executive Officer, commented:

"The signing of these agreements with Orange Egypt supports our long-term relationship with the company as a strategic partner. Our model of long-term agreements with the domestic MNOs in the field of transmission and international telecom services aims to secure our revenue stream from these segments, while providing the MNOs with competitive offers commercially and technically that meet their needs. The mobile termination agreement is also an important milestone, which provides visibility on mobile termination rates and improves our gross margin for this segment."

Commenting on today's announcement, Yasser Shaker, Orange Egypt Chief Executive Officer, said:

"We are pleased to have reached a long-term agreement with Telecom Egypt regarding transmission, international telecom, and mobile termination services, which we expect to positively affect the company's KPIs. The three agreements will support Orange in its leadership of providing telecom services of high quality and speed to its customers in the Egyptian market. This comes in line with the company's strategy especially after recently launching the 4G network, which we were the first to introduce. Orange is proud to have solid relationships with all companies and entities in the telecom sector, and Telecom Egypt in particular as it is the main provider of infrastructure services."

About Telecom Egypt

Telecom Egypt is the first total telecom operator in Egypt providing all telecom services to its customers including fixed and mobile voice and data services. Telecom Egypt has a long history serving Egyptian customers for over 160 years maintaining a leadership position in the Egyptian telecom market by offering its enterprise and consumer customers the most advanced technology, reliable infrastructure solutions and the widest network of submarine cables. Aside from its mobile operation "WE", the company owns a 45% stake in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on The Egyptian Exchange and the London Stock Exchange. Please refer to Telecom Egypt's full financial disclosure on ir.te.eg

For more information, contact:

Media relations team: media-relations@te.eg

Investor relations team: investor.relations@te.eg

About Orange

Orange is one of the world's leading telecommunications operators with sales of 41 billion euros in 2017 and 152,000 employees worldwide at 31 December 2017, including 93,000 employees in France. Present in 29 countries, the Group has a total customer base of more than 273 million customers at 31 December 2017, including 211 million mobile customers and 20 million fixed broadband customers worldwide. Orange is also a leading provider of global IT and telecommunication services to multinational companies, under the Orange Business Services brand. In March 2015, the Group presented its new strategic plan Essentials 2020, which places customers' experience at the heart of its strategy with the aim of allowing them to benefit fully from the digital universe and the power of its new generation networks.

Orange is listed on Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).

For more information on the internet and on your mobile: www.orange.com, www.orange-business.com, or to follow us on Twitter: @presseorange.

Orange and all other Orange products or services mentioned in this press release are trademarks owned by Orange or Orange Brand Services Limited.

PR contacts: mediarelations.eg@orange.com