0
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.

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

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

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Telecom Egypt formalises capacity lease agreement with Bharti Airtel for MENA Cable

Published 03 Oct 2018 09:28 CET | Egypt
Telecom Egypt has said that it has signed an agreement with Bharti Airtel to formalise its partnership announced on 06 August. ...

Telecom Egypt buys rest of subsea cable company EISCC

Published 24 Sep 2018 09:32 CET | Egypt
Telecom Egypt announced that its board of directors has approved the acquisition of 50 percent of its subsidiary Egyptian ...

Telecom Egypt concludes acquisition of MENA submarine cable

Published 17 Sep 2018 13:11 CET | Egypt
Telecom Egypt announced the conclusion of its agreement to acquire the Middle East and North Africa Submarine Cable (MENA Cable) ...

Telecom Egypt to raise USD 500 mln syndicated loan led by UAE banks

Published 13 Aug 2018 15:58 CET | Egypt
Telecom Egypt is raising a USD 500 million syndicated loan for capital and operating expenditure, Reuters reported citing a ...

Bharti Airtel procures submarine cable capacity from Telecom Egypt

Published 06 Aug 2018 09:51 CET | Egypt
Bharti Airtel and Telecom Egypt have announced a strategic partnership under which Airtel will get IRUs (Indefeasible Right of ...

Telecom Egypt signs USD 200 mln financing deal with Afreximbank

Published 22 May 2018 09:53 CET | Egypt
Telecom Egypt and Abu Dhabi Islamic Bank Egypt have signed a USD 200 million short-term facility from the African Export-Import ...

Telecom Egypt revenue up 15.4% to EGP 4.8 bln in Q1

Published 10 May 2018 11:28 CET | Egypt
Telecom Egypt's consolidated revenue increased by 15.4 percent year on year to EGP 4.8 billion in the first quarter ended 31 ...

Telecom Egypt launches We Internet fixed service at up to 100 Mbps

Published 30 Apr 2018 09:20 CET | Egypt
Telecom Egypt has launched We Internet, a revamped version of its fixed broadband service. Subscribers can now get service at up ...

TE says EGP 13 bln syndicated loan proceeds on course

Published 04 Apr 2018 11:05 CET | Egypt
Telecom Egypt says procedures for a EGP 13 billion syndicated loan are proceeding according to the normal course of obtaining ...

Telecom Egypt launches mobile, ADSL deal Indigo

Published 03 Apr 2018 08:40 CET | Egypt
Telecom Egypt has announced the launch of Indigo, a new product for its postpaid customers, marking the first integrated bundle ...

Telecom Egypt cuts dividend in favour of submarine cable investment

Published 28 Mar 2018 12:50 CET | Egypt
Telecom Egypt announced that in light of a new investment opportunity in the submarine cable industry, the board determined to ...





Calendar   /   Industry Events

23 Jul Calix Q2 2019
23 Jul Iridium Q2 2019
23 Jul Snap Q2 2019
23 Jul AudioCodes Q2 2019
23 Jul Megacable Q2 2019
23 Jul Vodafone AGM
24 Jul Telekom Slovenije Q2 2019
24 Jul Orange Poland Q2 2019
24 Jul AT&T Q2 2019
24 Jul Netgear Q2 2019
24 Jul F5 Networks fiscal Q3
24 Jul Mellanox Technologies Q2 2019
24 Jul Altigen Communications fiscal Q3
24 Jul Facebook Q2 2019
24 Jul Line Q2 2019
24 Jul Orange Belgium Q2 2019
24 Jul KPN Q2 2019
24 Jul Telefonica Deutschland Q2 2019
24 Jul Technicolor H1 results
25 Jul Comcast Q2 2019
25 Jul Juniper Networks Q2 2019
25 Jul Orange Q2 2019
25 Jul Alphabet Q2 2019
25 Jul Verisign Q2 2019
25 Jul STMicroelectronics Q2 2019
25 Jul Amazon Q2 2019
25 Jul Smith Micro Q2 2019
25 Jul Telefonica Q2 2019
25 Jul Nokia Q2 2019
25 Jul Intel Q2 2019
::: More Calendar Items