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

TELECOM EGYPT (ETEL/CA)
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Telecom Egypt : TE appoints Al-Tamimi & Co as legal advisor for acquisition of MENA Cables

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05/17/2018 | 06:49am CEST

TE has hired Al-Tamimi & Co. Law Firm as its legal advisor

Telecom Egypt ETEL -2.35% 14.93 -0.36

Orascom Telecom Media & Technology OTMT -2.38% 0.83 -0.02

Cairo – Mubasher: Telecom Egypt and MENA submarine Cables has reached a final agreement regarding TE’s full acquisition of the latter for $90 million.

TE has hired Al-Tamimi & Co. Law Firm as its legal advisor, while Ibrachy Legal Consultancy (I&P) is the legal advisor to Orascom Telecom Media and Technology Holding (OTMT), sources familiar with the matter told Almal News.

Last week, the board of the state's landline monopoly had approved a subsidiary's acquisition of MENA Submarine Cable at a total value of EGP 1.6 billion ($90 million) that will be financed through a shareholder loan from TE.

In March, OTMT said it will sell its shares in MENA Submarine Cable for $90 million.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
ORASCOM INVESTMENT HOLDING 6.25% 0.612 End-of-day quote.-15.00%
TELECOM EGYPT 0.18% 11.07 End-of-day quote.-17.51%
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Financials (EGP)
Sales 2018 20 369 M
EBIT 2018 2 959 M
Net income 2018 3 159 M
Debt 2018 12 213 M
Yield 2018 9,03%
P/E ratio 2018 7,47
P/E ratio 2019 6,26
Capi. / Sales 2018 1,53x
Capi. / Sales 2019 0,83x
Capitalization 18 897 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 15,2  EGP
Spread / Average Target 37%
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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