Telecom Egypt, the state-owned landline monopoly, said it had struck a deal with Vodafone Egypt under which the mobile operator would release at least E£3.34 billion ($381 million) in withheld dividends.
Telecom Egypt owns 4
Egypt's stock exchange suspended trading of shares of Telecom Egypt, the state-owned landline monopoly, on Wednesday after the government replaced all of its representatives on the company's board of directors, two sources told Reuters.
Telecom Egypt, the country's state-owned landline monopoly, expects revenue growth between 7 per cent and 9 per cent in 2016, it said on Tuesday.
The company projected a profit margin before interest, tax and depreciation of b
Mohamed Salem, chairman of Egypt's state-owned landline telecom monopoly Telecom Egypt , said he resigned on Saturday, shortly after a new government was sworn in by President Abdel Fattah Al Sisi.
Salem, a former telecommunic
Telecom Egypt reported a 2015 second-quarter profit after tax of 378 million Egyptian pounds ($48.28 million), up 55 per cent on the year, the company said in a statement on Monday.
"Retail revenues remain strong, buoyed by t
Egypt's prime minister has appointed new government representatives to the board of state-owned landline monopoly Telecom Egypt, his office said in a statement on Wednesday.
The new board of the company will meet on Wednesday
Telecom Egypt (TE) will spend E£3 billion ($393 million) on its infrastructure development this year, the telecom company's chief executive officer was quoted as saying.
The company received a revenue of E£1.2 bill
Fixed-line monopoly Telecom Egypt posted $142.66 million in net profit in the second quarter and said on Wednesday it hoped to obtain a unified landline and mobile license soon allowing it to boost earnings further.
The net profit
Telecom Egypt, the country's fixed-line monopoly operator, reported a 36 per cent fall in first-quarter net profit on Tuesday, saying business was hit by the weak economy.
The company, which is 80 per cent owned by the governm
Egypt's landline monopoly Telecom Egypt expects a newly-formed government to grant it a licence to provide mobile services this month or next, the state-controlled company's chief executive said on Wednesday.