06 February 2018
| Jason Mcgee-Abe
Telecom Egypt has signed a three-year transmission and infrastructure agreement with Vodafone Egypt, valued at more than EGP 2 billion ($133m).
Telecom Egypt’s wholesale agreement with Vodafone Egypt, to provide transmission and infrastructure services took effect in January 2018 and will end in 2021, guarantees a minimum revenue of EGP 2.37 billion for Telecom Egypt over the tenure of the agreement, while Vodafone Egypt will benefit from new technical and commercial terms.
“We are pleased to sign this agreement, which supports the relationship between the two companies and reflects our eagerness to create strategic bonds with the local operators,” said Ahmed El Beheiry, Telecom Egypt's managing director and chief executive officer.
“Our model of long-term agreements guarantees our market leadership in infrastructure and transmission services, especially in light of Telecom Egypt's huge investment in its infrastructure and our continuous thrive to offer better technical and commercial alternatives to our customers."
This agreement represents a new step to maximise the commercial cooperation between the two companies and confirms the importance of partnership as the key driver to ensure the continuation of such cooperation between the two parties.
The agreement was signed by Ahmed El Beheiry and Alexander Froment-Curtil, the respective CEOs of Telecom Egypt and Vodafone Egypt.
In other news, Stefano Gastaut, former chief executive of Vodafone Egypt, was appointed as the company’s new internet of things global director as of 1 January 2018.