An official at Telecom Egypt stated in special remarks to Daily News Egypt that the company’s mobile lines arrived yesterday to the stores of the company in preparation for public offering within a few days. This coincides with the launch of mobile services, he said.
The official added that the National Telecommunications Regulatory Authority (NTRA) will likely approve the launch of mobile and fourth generation services for the company following the Eid holiday.
Telecom Egypt has been granted a licence to provide 4G services in October 2016. The company will be offering mobile services (second and third generation) as a virtual operator through reliance on mobile networks of other companies (Vodafone, Orange, and Etisalat) in the so-called local roaming until the company completes building its infrastructure. It has also been granted 15 mbps for 4G services.
An official at Telecom Egypt said that the company signed a local roaming agreement with a single company in Egypt, Etisalat, next to a memorandum of understanding (MoU) in principle with Orange.
Telecom Egypt’s earnings rose 22% year-on-year (y-o-y) to EGP 1.27bn in the second quarter (Q2) of this year, in line with an increase in revenue.
The consolidated financial statements showed that it achieved revenues of EGP 4.64bn during the three months ending June, compared to revenues of EGP 3.29bn in the same period last year.
The company’s market share of high-speed internet reached 77%, an increase in the number of subscriptions by 15% compared to Q2 of last year.