Telecom Egypt announced that the National Telecommunications Regulatory Authority (NTRA) has accepted and approved its financial and technical offer for additional spectrum that was submitted on the 17th of September, 2020. The company is expected to receive 20MHz of spectrum in the 2,600MHz band, utilizing TDD technology with a right of use of 10 years for USD 305 million to be paid as: 50% of the total value in USD upon signing the contracts; 25% of the total value in USD or its equivalent in EGP according to the rate announced by the CBE at the time of payment, no later than one year after signing the contracts; and 25% of the total value in USD or its equivalent in EGP according to the rate announced by the CBE at the time of payment, no later than two years after signing the contracts. This step comes in line with Telecom Egypt's constant endeavor to improve the quality of its services by continuously developing its infrastructure and injecting new investments into the allocated spectrum. This will contribute to enhancing the company's service quality and meeting its customers' needs and aspirations. The acquisition of spectrum is also in keeping with Telecom Egypt's strategy to transform from a fully integrated telecom provider to the leading ICT provider in Egypt.