TE gains 549 mln EGP net profit, prepares for unified license
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By THE CAIRO POST

CAIRO: Mohammed El-Nawawy, the executive manager for the state-owned Telecom Egypt (TE), announced on Tuesday that TE earned 549 million EGP in net profits in the first quarter of this year, and attributed the increase to a rise in the number of broadband services, Mubasher reported.

The number of broadband service users soared by 24.3 percent to acquire 63.4 percent of the net market, Mubasher reported. TE is currently working to obtain “all needed aspects” of a unified license that will allow it to represent five percent of the mobile market on a new mobile operator, it reported.

The three major mobile operators in Egypt, Vodafone, Mobinil and Etisalat, previously threatened international arbitration to stop the unified license deal. The Ministry of Communication and Information Technology, in cooperation with the national Telecommunication Regulatory Authority (NTRA), granted TE last April a license to run the mobile operator for 2.5 billion EGP.

In return, Egypt’s three mobile operators will be allowed to run landline services for 100 million EGP per operator.

The first phase of the unified license will be launched in June, the NTRA’s Hisham Al-Alayli previously stated.

The company will exploit its clients’ existing base of land line users and broadband services users to acquire a large number of users for the unified license, El-Nawawy said.

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