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MarketScreener Homepage  >  Equities  >  CAIRO AND ALEXANDRIA STOCK EXCHANGE  >  Telecom Egypt Company    ETEL   EGS48031C016

TELECOM EGYPT COMPANY

(ETEL)
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Telecom Egypt : and Etisalat Misr sign four agreements to provide virtual fixed voice and bitstream services

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07/14/2019 | 12:15pm EDT

Given the successful partnership between the two companies, Telecom Egypt and Etisalat Misr signed four agreements to maximize their customers' interest and provide them with the best services available in the Egyptian market.

The virtual fixed voice agreement entails enabling Etisalat Misr to provide fixed voice services to its customers through utilizing part of Telecom Egypt's network given its experience in this field. The various agreements detail the commercial and legal frameworks between the two companies and protect the rights of users. Etisalat Misr is now able to provide fixed voice services to its customers through all its stores across Egypt based on the license it acquired and the technical trials it has conducted on the service in the past few months to ensure that its customers will receive the best quality of service.

With regards to the bitstream agreements through which Etisalat Misr will be able to provide its fixed broadband customers with the new VDSL technology, the company will offer its customers unique packages with unprecedented speeds ranging from up to 30 Mbps and ending with up to 100 Mbps. The pricing of the bitstream services is based on the capacity utilized to allow customers to enjoy Telecom Egypt's network that recently underwent major developments.

Adel Hamed, Telecom Egypt's Managing Director and Chief Executive Officer, and Hazem Metwally, Etisalat Misr's Chief Executive Officer, signed the agreements in the presence of members of both companies' top managements.

Adel Hamed, Managing Director and Chief Executive Officer, commented:

'We are very pleased to continue to collaborate with Etisalat Misr on mutually beneficial agreements that will enrich the Egyptian market through service diversification and enhancement. The FVNO agreements enable Etisalat Misr to provide its customers with a new service, while Telecom Egypt will enhance its revenues generated from the domestic wholesale business supported by the increase in Etisalat Misr's customer base. In addition, the bitstream agreements allow Etisalat to enhance its current fixed broadband offering and at the same time support Telecom Egypt in monetizing its growing investments in the Egyptian telecom infrastructure.'

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

'We are pleased to have signed these agreements with our success partner, Telecom Egypt and we always seek through such agreements to provide the best models of partnership between telecom operators in the Egyptian market. These agreements fall within Etisalat's strategy to provide the latest and best quality integrated services to its customers in Egypt utilizing the latest technology developed globally. During the next phase, Etisalat will provide its customers with a wide range of products and services that will be launched for the first time in the Egyptian market, based on Egypt's most powerful mobile network and the fastest mobile phone and landline technology. We are also proud that Etisalat's customers currently have access to all fixed and mobile services through all Etisalat's stores across Egypt.'

Disclaimer

Telecom Egypt Company SAE published this content on 14 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2019 16:14:01 UTC

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Financials (EGP)
Sales 2019 24 030 M
EBIT 2019 3 620 M
Net income 2019 3 680 M
Debt 2019 9 128 M
Yield 2019 3,42%
P/E ratio 2019 7,30x
P/E ratio 2020 5,47x
EV / Sales2019 1,38x
EV / Sales2020 1,33x
Capitalization 23 984 M
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 9
Average target price 16,44  EGP
Last Close Price 14,05  EGP
Spread / Highest target 32,5%
Spread / Average Target 17,0%
Spread / Lowest Target 5,34%
EPS Revisions
Managers
NameTitle
Ahmed Mohamed Hamdy El-Behery Chief Executive Officer, Director & MD
Maged Ibrahim Osman Chairman
Mohamed Hassan Shamroukh Gomaa Chief Financial Officer, Director & Senior VP
Antar Kandil Chief Information Officer & Vice President
Yasser Rashwan Chief Technology Officer
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