Telecom Egypt and Etisalat Misr sign a number of agreements with a total value of EGP 17bn

 including EGP 15bn in infrastructure revenue for Telecom Egypt

Cairo, 02 June 2022: Telecom Egypt and Etisalat Misr signed six new commercial and strategic agreements, a step that comes within the framework of a joint cooperation between both parties to maximize their returns and support the development of new technologically advanced services to end users in the local market.

The agreements entail the provisioning of services by Telecom Egypt to Etisalat Misr including infrastructure, access and voice services allowing Etisalat to provide premium services to its customers nation-wide capitalizing on Telecom Egypt's network, with the largest agreement being a 10-year transmission agreement with a total value of EGP 12.5bn. This agreement will secure the current and future expansions of Etisalat Misr's network on Telecom Egypt's infrastructure. Moreover, a Fiber to the site (FTTS) agreement was signed, a new cooperation between both companies, whereby Telecom Egypt will provide access services with ample capacities on optical fiber for Etisalat Misr's mobile towers. These agreements come in addition to some amendments to a number of existing agreements.

The two companies also signed a modification to the national roaming agreement signed earlier in 2017, to enable Telecom's Egypt's demand for growing capacities on Etisalat Misr's network during the year 2022, beside setting the ground for a more flexible and appropriate mechanism for the expiration of this agreement, which is due by end of year.

Adel Hamed, Telecom Egypt's Managing Director and Chief Executive Officer, commented:

"We are very happy to have signed these agreements with Etisalat Misr, as this step fosters the cooperation between both companies to best serve their customers. Over the past years, we have been investing heavily in upgrading our backbone network and we are working on maximizing the returns on our infrastructure investment and continue to serve the local telecom market."

Hazem Metwally, Chief Executive Officer of Etisalat Misr, said:

"We are proud of our collaboration with Telecom Egypt, which affirms our leadership within the technology and telecom fields, playing a vital role in leading the digital future in Egypt. We are keen on investing in further strengthening and upgrading our network to meet the needs of Egypt's market for data usage. Such investments will positively reflect in the quality of services provided to end users and comes in-line with the country's digital transformation strategy as well as our mission to enrich people's lives. During the upcoming period, these agreements will play an integral role in the company's solutions that will be introduced for the first time in the Egyptian market."

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About Etisalat Misr

Etisalat Misr is a subsidiary of Etisalat group one of the first telecom operators in the world to launch the 4G with total presence in 16 countries across Africa, Middle East and Asia. Etisalat group entered the Egyptian market in May 2007. Etisalat Misr achieved technology leadership by introducing for the first time to the Egyptian market a host of 3.5G services, such as video calling, mobile TV, mobile broadband internet and data services and launched the 4G on 19th September 2017. Today, Etisalat Misr's product and service portfolio is covered by high quality 2G and 3G network covering and serving 99% of the population in Egypt.  Etisalat Misr also provides international services, and its customers enjoy competitive international rates to all destinations around the globe through its own international gateway, complemented by offering internet services to its customers at home and on the move.

For more information, please visit Etisalat Misr's website: https://www.etisalat.eg/etisalat/portal/home.

About Telecom Egypt

Telecom Egypt is the first integrated telecom operator in Egypt providing all telecom services to its customers including fixed and mobile voice and data services. Telecom Egypt has a long history serving Egyptian customers for over 160 years maintaining a leadership position in the Egyptian telecom market by offering its enterprise and consumer customers the most advanced technology, reliable infrastructure solutions and the widest network of submarine cables.  Aside from its mobile operation "WE", the company owns a 45% stake in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on The Egyptian Exchange and the London Stock Exchange. Please refer to Telecom Egypt's full financial disclosure on ir.te.eg

For more information, contact:  

The investor relations team     Email: [email protected]