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.