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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 : signs LoI offering PEACE redundancy in exchange for competitive pricing on fibre optic cables

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04/27/2019 | 06:28am EDT

Telecom Egypt signed a binding letter of intent (LoI) with Pakistan & East Africa Connecting Europe (PEACE) Cable International Network Co. and its affiliate HENGTONG OPTIC-ELECTRIC, the Chinese technology and industrial giant,enriching the partnership between PEACE and Telecom Egypt further and extending it to other service lines.

Under the LoI, PEACE will be granted an additional fiber pair to its redundant cross Egypt routes to accommodate PEACE extensive demand to Europe with a total value of USD 20mn, and in return HENGTONG shall provide TE with fiber optic cables of different cores based on competitive pricing that will be utilized in TE's strategic plans for fiber deployment inside Egypt. The agreement enacting the LoI is expected to be completed within the coming two months.

Adel Hamed, Telecom Egypt's Managing Director and Chief Executive Officer said:

'I am very pleased with the signing of this letter of intent, which attests our network evolution over time to offer a secure passage for international traffic as well as demonstrates the significance of our services for the growing demand from the East to Europe. Strategically, this agreement is a manifestation of our future plans to extract synergies and integrate our strength across our business units by leveraging our positioning in the international market to secure a business opportunity for our local business within the strategy of extending our fiber network to every corner in Egypt.'

Disclaimer

Telecom Egypt Company SAE published this content on 27 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 April 2019 10:27:09 UTC

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Financials (EGP)
Sales 2019 24 563 M
EBIT 2019 3 932 M
Net income 2019 4 048 M
Debt 2019 9 536 M
Yield 2019 3,23%
P/E ratio 2019 8,06x
P/E ratio 2020 5,50x
EV / Sales2019 1,37x
EV / Sales2020 1,22x
Capitalization 24 070 M
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 9
Average target price 16,91  EGP
Last Close Price 14,10  EGP
Spread / Highest target 35,5%
Spread / Average Target 19,9%
Spread / Lowest Target 4,96%
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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