Telecom Egypt expects mobile licence in the next two months

Telecom Egypt expects mobile licence in the next two months

Telecom Egypt has said it expects the country’s newly formed government to grant it a licence to provide mobile services within the next two months.

The state-controlled operator has been largely reliant on its data business to boost its revenue, but has been waiting to launch a new mobile operation with Vodafone to rival the country’s other two large players.

Mobile operations have had a big impact on Telecom Egypt’s fixed-line services, and the company has been seeking a way to expand its exposure to mobile services.

The company’s CEO Mohamed el-Nawawy said today that the company expects a mobile service licence to be issued in March or April, after it announced 2013 financial results.

Posting a net profit of E£2.96 billion ($424 million) for 2013, compared to E£2.62 billion ($375 million) in 2012, the company was also up on revenues to E£11.3 billion, ($1.62 billion) compared to E£10.03 billion ($1.44 billion) a year before.

The Cairo-based operator is 80% owned by the government and the country’s regulator said in 2013 that it would allow the firm a licence to provide mobile services, and also allow mobile operators to tap into Telecom Egypt’s infrastructure to offer fixed-line capabilities.

Vodafone Egypt, Mobinil and Etisalat are Egypt’s three mobile operators.

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