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Submarine cables are one of Telecom Egypt’s hubs

The submarine cables are a major source of revenues and profits for Telecom Egypt (TE). TE operates about 17 submarine cables, as well as acquiring Menacables from Orascom Telecom, Media, and Technology two months ago. The cable activity began in Egypt in 1901, when the first cable was laid to transfer telegraphs from Asia to …

Daily News Egypt

Telecom Egypt’s EISCC buys MENA-SCS for $90m

Telecom Egypt has announced that its 50% subsidiary, the Egyptian International Submarine Cables Company (EISCC), has completed an agreement with Orascom Telecom Media and Technology Holding (OTMT) for the purchase of OTMT’s shareholding in Middle East and North Africa Submarine Cable System (MENA-SCS) for a total value of $90m. The transaction aims to be concluded …

Daily News Egypt

TE ranks among largest 300 communication brands globally

Brand Finance has ranked Telecom Egypt (TE) among the world’s largest 300 companies in the field of IT and communication in terms of market value. TE ranked 201st globally, falling from last year’s 152nd spot. Meanwhile, US-based AT&T topped the most valuable communication companies in the world, with a market value of $82.4m, followed by …

Daily News Egypt

Telecom Egypt total revenues increased 33%

Telecom Egypt (TE) announced its financial results for the year 2017, according to consolidated financial statements prepared in accordance with Egyptian accounting standards. The company achieved unprecedented financial and operational performance, especially after the successful launch of its WE mobile network. The company’s total consolidated revenues for the fiscal year (FY) that ended on 31 …

Daily News Egypt

2.3m subscribers to Telecom Egypt mobile services

Telecom Egypt (TE) attracted 2.3 million subscribers to its mobile services in less than three months, from when the service was launched in mid-September 2017 to the end of that year. According to analysts in the capital market, Telecom Egypt, at the beginning of its entry into the mobile market, relied on the human tendency …

Daily News Egypt

TE settles dispute with Etisalat Egypt for $48m 

Telecom Egypt (TE) has signed an agreement to settle its dispute with Etisalat Egypt, regarding international call services, for $48m. TE said in an Egyptian Exchange (EGX) report on Tuesday that according to the meeting, the dispute was settled, as the company will pay $48m to avoid the potential risks estimated to be worth nearly …

Daily News Egypt

TE sells its products and lines on Souq.com

Telecom Egypt (TE) has signed an exclusive cooperation agreement to market its products through Souq.com, a subsidiary of Amazon, to sell its products it. Souq.com is one of the leading online shopping sites in Egypt and the Arab world with more than 8.4 million products in 31 categories, including electronics, cosmetics, household items and household …

Daily News Egypt

TE added 22,000 new customers to fixed-line services in August

Telecom Egypt (TE) added 22,100 new customers to its fixed-line services in August, according to a report by the Ministry of Communication and Information Technology. The number of customers increased from 6.25 million customers in July to 6.27 million customers in August. Despite the growth in the number of customers in August, the number of …

Daily News Egypt