REG - Telecom Egypt S.A.E - TE signs a Wholesale Agreement with Vodafone <Origin Href="QuoteRef">ETEL.CA</Origin>

Telecom Egypt Co SAEAnnouncement

05/02/2018 07:05

RNS Number : 8523D
Telecom Egypt S.A.E
05 February 2018
       
Telecom Egypt signs Transmission and InfrastructureAgreement with Vodafone Egypt 
with a value of more than EGP 2bn
Monday, 5 February 2018
Telecom Egypt (Ticker: ETEL.CA; TEEG.LN) announces signing a wholesale agreement with Vodafone Egypt to provide transmission and infrastructure services. The agreement will take effect from January 2018 for three year ending 2021. 
The agreement guarantees a minimum revenue of EGP 2.37bn for Telecom Egypt over the tenure of the agreement, while Vodafone Egypt will benefit from new technical and commercial terms.
The agreement was signed by Telecom Egypt's CEO Ahmed El Beheiry and Mr. Alexander Froment-Curtil, Vodafone Egypt's CEO.
This agreement represents a new step to maximize the commercial cooperation between the two companies and confirms the importance of partnership as the key driver to ensure the continuation of such cooperation between the two parties. 
Ahmed El Beheiry, Telecom Egypt's Managing Director and Chief Executive Officer, commented:
"We are pleased to sign this agreement, which supports the relationship between the two companies and reflects our eagerness to create strategic bonds with the local operators. Our model of long term agreements guarantees our market leadership in infrastructure and transmission services, especially in light of Telecom Egypt's huge investment in its infrastructure and our continuous thrive to offer better technical and commercial alternatives to our customers." 
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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, the leading and most profitable mobile operator in 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

This information is provided by RNS
The company news service from the London Stock Exchange
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