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General

Telecom Egypt approves acquisition of MENA Cable from Orascom TMT, long-term credit facilities

Thursday 10 May 2018 | 11:32 CET | News
Telecom Egypt said that its board has approved two strategic decisions to increase its return on investment, and provide the liquidity to facilitate the implementation of its business plan. The board approved the acquisition of Middle East and North Africa Submarine Cable (MENA Cable) by 50 percent-owned subsidiary Egyptian International Submarine Cables Company, with a total enterprise value of USD 90 million to be financed through a shareholder loan from Telecom Egypt. MENA Cable is a subsidiary of Orascom Telecom Media and Technology Holding.

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Categories: General
Companies: Huawei / Orascom Telecom Media and Technology / Telecom Egypt
Countries: Egypt
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