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MarketScreener Homepage  >  Equities  >  Egyptian Exchange  >  Telecom Egypt Company S.A.E.    ETEL   EGS48031C016

TELECOM EGYPT COMPANY S.A.E.

(ETEL)
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Telecom Egypt E : awarded new spectrum package

11/05/2020 | 02:12am EST
Telecom Egypt announces 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 2600MHz band, utilizing TDD technology with a right of use of 10 years for USD 305mn to be paid as follows:

1) 50% of the total value in USD upon signing the contracts
2) 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
3) 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.

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

'We are very pleased with the approval of Telecom Egypt's offer for additional spectrum, which will have an immediate and future positive impact on the company's ability to reach the highest levels of service quality. This step will also lead to financial savings coming from cost reductions related to the services provided. Thanks to the new spectrum, Telecom Egypt will be able to accommodate the growing mobile customer base, which hit 6.7mn by the first half of 2020, and the associated hike in data services without compromising service quality, while providing the best value for money packages.'

Disclaimer

Telecom Egypt Company SAE published this content on 05 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2020 07:11:06 UTC


© Publicnow 2020
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Financials
Sales 2020 29 517 M 1 885 M 1 885 M
Net income 2020 4 263 M 272 M 272 M
Net Debt 2020 17 232 M 1 100 M 1 100 M
P/E ratio 2020 5,26x
Yield 2020 2,36%
Capitalization 19 904 M 1 267 M 1 271 M
EV / Sales 2020 1,26x
EV / Sales 2021 1,15x
Nbr of Employees -
Free-Float 20,0%
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Technical analysis trends TELECOM EGYPT COMPANY S.A.E.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 8
Average target price 17,55 EGP
Last Close Price 11,66 EGP
Spread / Highest target 107%
Spread / Average Target 50,5%
Spread / Lowest Target 13,2%
EPS Revisions
Managers and Directors
NameTitle
Adel Hamed Ibrahim Gadalla 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
Ahmed Mohammed Jamal Abou Ali Independent Non-Executive Director
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