REG - Telecom Egypt S.A.E - TE & Etisalat sign agreements for roaming &mobile

Telecom Egypt Co SAEAnnouncement

05/07/2018 07:00

RNS Number : 6527T
Telecom Egypt S.A.E
04 July 2018
 


 
Telecom Egypt and Etisalat Misr sign two agreements for national roaming and mobile termination
 
Cairo, 4 July 2018: Telecom Egypt and Etisalat Misr announced the signing of an amendment of the national roaming agreement sealed in July 2017. The amendment provides better financial and service quality terms availing improved commercial conditions for Telecom Egypt. The latter is a result of the development of the volume of Telecom Egypt's data traffic. The new agreement involves national roaming services on Etisalat's network for Telecom Egypt voice and data traffic. The agreement ends in December 2022.
The two companies also signed a letter of intent (LoI) for mobile termination rates, which included a preferential termination rate for Telecom Egypt. The LoI aims to put a framework for the interconnection rate between both operators and is considered the first arrangement on mobile interconnection for Telecom Egypt. 
Ahmed El Beheiry, Managing Director and Chief Executive Officer, commented:
"The signing of these agreements with Etisalat Misr is a crucial and beneficial step for Telecom Egypt as it enhances the company's profit margins as well as the quality of service provided to its mobile customers. The agreements are also a testament of the strong partnership developed with Etisalat Misr across several services including international voice services, national roaming, site sharing as well as the anticipated partnerships in access services.
 
It is important to note that the signing of these agreements is a step in the company's strategic plan, which aims to improve the margin of mobile services through reducing the relative cost of national roaming and interconnection concurrently with the continuation of the roll-out of Telecom Egypt's own 4G network."
 
Hazem Metwally, Chief Executive Officer of Etisalat Misr, commented:
 
"We are pleased with the signing of the national roaming and mobile termination agreements with Telecom Egypt. Such agreements are mutually beneficial for both companies as well as their customers. Etisalat Misr has the best coverage and the most advanced technology in the Egyptian market, which enables it to provide the best quality service to its customers."
- End -
 
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
 
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 gate way, complemented by offering internet services to its customers at home and on the move.



 
 
 
 
 
 




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
AGREAPXLEELPEFF