Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Egypt
  4. Egyptian Exchange
  5. Telecom Egypt Company S.A.E.
  6. News
  7. Summary
    ETEL   EGS48031C016

TELECOM EGYPT COMPANY S.A.E.

(ETEL)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Telecom Egypt E : and Vodafone Group sign a modified shareholders' agreement

06/07/2021 | 06:31am EDT

Telecom Egypt ('TE') and Vodafone Group ('Vodafone Group') signed today a modified Shareholders' Agreement. The agreement includes changes to Vodafone Egypt's ('VFE') dividend policy, whereby VFE will pay a one-time dividend of EGP10 billion to its shareholders during the 2021 calendar year, EGP 2bn of which was paid in March. The parties have also agreed on a minimum dividend payout ratio of 60% of free cash flow going forward.

The modified signed agreement also gives Vodafone Group the right to transfer its shareholding in VFE within the broader Vodafone Group. TE maintains its existing rights in the agreement and has obtained certain enhanced minority rights including access to information.

Adel Hamed, TE's Managing Director and Chief Executive Officer, commented:

'We are pleased to have reached an agreement that is mutually beneficial to both parties. Telecom Egypt has been and continues to be a strategic partner to Vodafone Group in the Egyptian market. This agreement guarantees the preservation of our strategic partnership in light of an enhanced shareholders' agreement that provides Telecom Egypt with visibility on its investment and its expected returns based on Vodafone Egypt's performance and gives our shareholders comfort that our participation in the company continues to be fruitful and rewarding. Telecom Egypt plans to utilize the cash inflow from the dividend to be received in 2021 to deleverage its balance sheet, reduce financing expenses and enhance profitability.'

Disclaimer

Telecom Egypt Company SAE published this content on 07 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2021 10:30:05 UTC.


© Publicnow 2021
All news about TELECOM EGYPT COMPANY S.A.E.
07/24TELECOM EGYPT : Introduced Volte Service in Egypt
AQ
06/07TELECOM EGYPT E : and Vodafone Group sign a modified shareholders' agreement
PU
05/11Telecom Egypt Company S.A.E. Reports Earnings Results for the First Quarter E..
CI
05/10Q1 2021 RESULTS : Continued top line growth filters through to strong net profit
PU
05/10Q1 2021 RESULTS : Continue top line growth filters through to strong net profit
PU
04/26TELECOM EGYPT COMPANY S.A.E. : Ex-dividend day for final dividend
FA
04/13Telecom Egypt Company S.A.E. Announces Dividend Distribution Dates
CI
03/22Vodafone Egypt Raises Proposed Dividend for Fiscal Year 2020
CI
03/22TELECOM EGYPT E : raises its proposed dividend for FY 2020 in light of Vodafone ..
PU
03/03TELECOM EGYPT E : to Launch New African Subsea System
MT
More news
Financials
Sales 2021 34 086 M 2 169 M 2 169 M
Net income 2021 5 958 M 379 M 379 M
Net Debt 2021 28 350 M 1 804 M 1 804 M
P/E ratio 2021 4,54x
Yield 2021 5,67%
Capitalization 23 592 M 1 506 M 1 501 M
EV / Sales 2021 1,52x
EV / Sales 2022 1,44x
Nbr of Employees -
Free-Float 20,0%
Chart TELECOM EGYPT COMPANY S.A.E.
Duration : Period :
Telecom Egypt Company S.A.E. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TELECOM EGYPT COMPANY S.A.E.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Last Close Price 13,82 EGP
Average target price 17,99 EGP
Spread / Average Target 30,2%
EPS Revisions
Managers and Directors
Adel Hamed Ibrahim Gadalla Chief Executive Officer, Director & MD
Mohamed Hassan Shamroukh Gomaa Chief Financial Officer, Director & Senior VP
Maged Ibrahim Osman Chairman
Antar Kandil Chief Information Officer & Vice President
Mohamed Al-Fowey Chief Technology Officer & Vice President
Sector and Competitors