Telecom Egypt hopes for mobile licence
Telecom Egypt has revealed a successful set of third-quarter financial results today, and expects to receive a mobile licence from the country’s government by the end of the year.
The Egyptian operator’s financial results for the quarter showed consolidated revenues of EGP 2.86 billion ($414 million) – a 16% increase on the previous quarter – and the company expects future revenue to come from the mobile sector.
“Looking... forward, the Egyptian telecommunications market is beginning to undergo a significant shift in mobile data usage where data services, such as Viber or Skype, now supersede voice communications,” a statement from the company read.
“Telecom Egypt will be well positioned to take advantage of this shift, once we have received the total telecommunications licence from the NTRA [National Telecom Regulatory Authority].”
Mohamed El-Nawawy, CEO at Telecom Egypt, said: “We see a reason to be confident that [a mobile] licence would be issued within 2013.”
The government owns 80% of Telecom Egypt and the company competes against mobile operators Etisalat and France Telecom’s Mobinil in the country.