REG - Telecom Egypt S.A.E - China Mobile Intl & TE Forge Strategic Partnership

Telecom Egypt Co SAEAnnouncement

24/12/2024 07:15

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RNS Number : 2661R  Telecom Egypt S.A.E  24 December 2024

 

China Mobile International and Telecom Egypt Forge

Strategic Partnership

 

Hong Kong, 24 December 2024 - China Mobile International (CMI) and Telecom
Egypt have announced a strategic commercial agreement signed by Mr. Wang Hua,
Chairman and Chief Executive Officer of CMI, and Mr. Mohamed Nasr, Managing
Director and Chief Executive Officer of Telecom Egypt. This landmark
commercial agreement capitalizes on both companies' investments in subsea
cable infrastructure and resource sharing to address the rapidly growing data
needs of businesses and consumers worldwide. This partnership also includes a
suite of innovative, enterprise-grade digital and business services tailored
to meet the dynamic needs of enterprises in Egypt and across the region.

This strategic agreement marks the deepening of the relationship between CMI,
a wholly owned subsidiary of China Mobile-renowned for operating the world's
largest network, serving the largest customer base, and leading in
profitability, brand value, and market rankings-and Telecom Egypt, the total
telecom services provider in Egypt and one of the largest subsea cables
operators in the region.

A key element of this partnership is the international infrastructure
commercial agreement, which centers on expanding the global reach of both
companies, reinforcing their shared commitment to delivering high-quality,
uninterrupted services in an increasingly interconnected world. This
transaction strengthens the diversity and resilience of both companies'
networks by providing additional routes across segments of their respective
cable systems delivering more reliable connectivity services. As such, the
collaboration unlocks additional value and reflects a cost-effective approach
underscoring their devotion to developing robust network infrastructure
worldwide.

Furthermore, by combining CMI's advanced digital solutions with Telecom
Egypt's robust nationwide infrastructure, extensive market expertise, and
widespread regional reach, both organizations will explore customized DICT
(Digital, Information, Communication, and Technology) solutions to advance
smart services for enterprises, aiming to empower businesses with scalable
solutions that drive digital transformation and reinforce their positions as
leaders in the enterprise services market.

CMI and Telecom Egypt will continue to leverage their resources and expertise
to boost services for global enterprises and consumers and accelerate digital
economy development, creating greater economic benefits and societal value.

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About China Mobile International Limited

China Mobile International Limited (CMI) is a wholly owned subsidiary of China
Mobile. In order to provide high-quality services to meet the growing demand
in the international market, China Mobile established CMI in December 2010,
headquartered in Hong Kong, China. CMI has expanded its footprint in 39
countries and regions. Leveraging the strong support by China Mobile, CMI is a
trusted partner that provides comprehensive international information services
and solutions to enterprises, carriers and mobile users. please visit
www.cmi.chinamobile.com (http://www.cmi.chinamobile.com)

 

About Telecom Egypt

Telecom Egypt is a total telecom services provider in Egypt that provides a
wide array of services to a diverse customer base. Serving individuals,
communities, SOHOs, SMEs and large enterprises, Telecom Egypt offers a
comprehensive, innovative, and diversified portfolio of services, ranging from
fixed and mobile voice to essential data solutions crucial in today's digital
landscape. These services also include high-speed internet, smart solutions,
data center facilities, and cloud computing solutions tailored for businesses.

With a rich heritage of about 170 years, Telecom Egypt continues to lead the
Egyptian telecom market by providing cutting-edge technology, robust
infrastructure, and an extensive network of subsea cables to meet the needs of
its enterprise and consumer clientele. The company's pivotal role in Egypt's
telecommunications landscape is underscored by its expansive network coverage,
broad service range, and dedication to fostering innovation. Aside from its
mobile operation "WE", Telecom Egypt holds a significant 45% ownership 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.

For more information, contact:

The investor relations team

Email: investor.relations@te.eg (mailto:investor.relations@te.eg)
 

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