Last checked at 1 Jun 2020 08:00
Telecom Egypt and Etisalat Misr sign transmission and mobile-to-fixed interconnection agreements
Cairo, 1 June 2020: In light of their ongoing strategic partnership, Telecom Egypt and Etisalat Misr signed two first of its kind agreements relating to transmission and mobile-to-fixed interconnection. The first agreement entails a development of Telecom Egypt's transmission and infrastructure services' commercial model with Etisalat Misr, where Etisalat Misr for the first time signs a long-term agreement including an annual commitment for Telecom Egypt's infrastructure and transmission services. The agreement will enable Etisalat Misr to continue delivering premium offers and mobile telecommunications services to its customers in the Egyptian market and extends for three and a half years with a total value of EGP 2bn.
Additionally, the two companies have signed a mobile-to-fixed termination agreement representing the first commercial arrangement on mobile-to-fixed between Telecom Egypt and Etisalat Misr and the second for Telecom Egypt in the Egyptian market.
Adel Hamed, Managing Director and Chief Executive Officer, commented:
"We are very happy to have signed these agreements. The transmission agreement is evidence that Telecom Egypt's long-term commercial model is indeed valued by all mobile operators in the market. The agreement also allows us to further monetize our infrastructure investments that serve all local telecommunications companies and enrich the Egyptian market by diversifying and improving the quality of services provided. Telecom Egypt has heavily invested in its infrastructure to accommodate the significant and ongoing increase in data usage in Egypt. Such investments have especially borne fruit during these times that the world in its entirety is living."
Hazem Metwally, Chief Executive Officer of Etisalat Misr, said:
"We are pleased with the development of our strategic partnership with Telecom Egypt, a company that we consider to be our success partner in the Egyptian market. We always strive through such agreements to provide the latest and highest quality integrated services to our customers using the most advanced technological solutions prevalent in global markets.
The development of events across the world makes telecommunications companies eager to cope with the required changes and during the next stage, agreements like the ones we have signed today will be reflected in the products and services that we will offer our customers for the first time in the Egyptian market."
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About Etisalat Misr
Etisalat Misr is a subsidiary of Etisalat group one of the first telecom operators in the world to launch the 4G with total presence in 16 countries across Africa, Middle East and Asia. Etisalat group entered the Egyptian market in May 2007. Etisalat Misr achieved technology leadership by introducing for the first time to the Egyptian market a host of 3.5G services, such as video calling, mobile TV, mobile broadband internet and data services and launched the 4G on 19th September 2017. Today, Etisalat Misr's product and service portfolio is covered by high quality 2G and 3G network covering and serving 99% of the population in Egypt. Etisalat Misr also provides international services, and its customers enjoy competitive international rates to all destinations around the globe through its own international gateway, complemented by offering internet services to its customers at home and on the move. For more information, please visit Etisalat Misr's website: https://www.etisalat.eg/etisalat/portal/home.
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: investor.relations@te.eg