REG - Telecom Egypt S.A.E - Telecom Egypt & Etisalat Misr sign four agreements

Telecom Egypt Co SAEAnnouncement

15/07/2019 07:06

RNS Number : 4529F
Telecom Egypt S.A.E
15 July 2019
 


 
Telecom Egypt and Etisalat Misr sign four agreements to provide virtual fixed voice and bitstream services
 
Cairo, 14 July 2019: Given the successful partnership between the two companies, Telecom Egypt and Etisalat Misr signed four agreements to maximize their customers' interest and provide them with the best services available in the Egyptian market.
The virtual fixed voice agreement entails enabling Etisalat Misr to provide fixed voice services to its customers through utilizing part of Telecom Egypt's network given its experience in this field. The various agreements detail the commercial and legal frameworks between the two companies and protect the rights of users. Etisalat Misr is now able to provide fixed voice services to its customers through all its stores across Egypt based on the license it acquired and the technical trials it has conducted on the service in the past few months to ensure that its customers will receive the best quality of service.
With regards to the bitstream agreements through which Etisalat Misr will be able to provide its fixed broadband customers with the new VDSL technology, the company will offer its customers unique packages with unprecedented speeds ranging from up to 30 Mbps and ending with up to 100 Mbps. The pricing of the bitstream services is based on the capacity utilized to allow customers to enjoy Telecom Egypt's network that recently underwent major developments.
Adel Hamed, Telecom Egypt's Managing Director and Chief Executive Officer, and Hazem Metwally, Etisalat Misr's Chief Executive Officer, signed the agreements in the presence of members of both companies' top managements.  
Adel Hamed, Managing Director and Chief Executive Officer, commented:
"We are very pleased to continue to collaborate with Etisalat Misr on mutually beneficial agreements that will enrich the Egyptian market through service diversification and enhancement. The FVNO agreements enable Etisalat Misr to provide its customers with a new service, while Telecom Egypt will enhance its revenues generated from the domestic wholesale business supported by the increase in Etisalat Misr's customer base. In addition, the bitstream agreements allow Etisalat to enhance its current fixed broadband offering and at the same time support Telecom Egypt in monetizing its growing investments in the Egyptian telecom infrastructure." 
Hazem Metwally, Chief Executive Officer of Etisalat Misr, commented:
"We are pleased to have signed these agreements with our success partner, Telecom Egypt and we always seek through such agreements to provide the best models of partnership between telecom operators in the Egyptian market. These agreements fall within Etisalat's strategy to provide the latest and best quality integrated services to its customers in Egypt utilizing the latest technology developed globally. During the next phase, Etisalat will provide its customers with a wide range of products and services that will be launched for the first time in the Egyptian market, based on Egypt's most powerful mobile network and the fastest mobile phone and landline technology. We are also proud that Etisalat's customers currently have access to all fixed and mobile services through all Etisalat's stores across Egypt."
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About Etisalat Misr
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. 
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:
The investor relations team
Email: investor.relations@te.eg 




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