Orange Egypt and Telecom Egypt announce Final Settlement Ending Legal Disputes between the Companies Wednesday, 22 November 2017

Orange Egypt (OEG) and Telecom Egypt (te) announce that they have reached a final settlement agreement of the ongoing disputes between both companies. The settlement agreement was signed today.

As per this settlement agreement, OEG and te will settle all the pending disputes related to interconnection, infrastructure and international gateway services mainly (i) the arbitration case no. 644 for the year 2009 before the Cairo Regional Centre for International Commercial Arbitration, and (ii) Court case no. 341 for the 8th Judicial Year before the Economic Court of Cairo; and any direct or indirect related legal proceedings.

The agreement marks the complete settlement of all pending disputed amounts between Telecom Egypt and Orange Egypt covering the period from 2008 to October 2017 relating to interconnection, leased lines and international services. Within the framework, both companies have also agreed to undertake the necessary legal steps to waive the above mentioned disputes.

Commenting on today's announcement, Mr. Jean Marc Harion Orange, Egypt Chief Executive Officer, said: "We believe that this agreement is in the best interest of OEG's shareholders as it resolves all outstanding disputes with Telecom Egypt and removes the uncertainty and distraction of prolonged litigations." He added "It also allows the two companies to focus all of their attention on the present significant opportunities in the Egyptian market."

Ahmed El Beheiry, Telecom Egypt's Chief Executive Officer, commented "We are pleased with the resolution of our dispute and the settlement achieved, which was enabled by the mutual cooperation between Telecom Egypt and Orange. This marks the complete resolution of the longstanding legal disputes with Orange. The settlement agreement strengthens our collaboration and paves the way to the framework we will agree on in the future. We look forward to expanding our business relationship with Orange."

About Orange

Orange Egypt for Telecommunications SAE is an Egypt-based mobile telecommunications provider. The Company is engaged in the execution, management, operation, development and maintenance of a digital cellular mobile telecommunications system, global system for mobile communication (GSM); the sale and distribution of mobile lines, recharge cards, mobile devices and its supplies and accessories, and the provision of maintenance services. The Company, along with its subsidiaries, is organized into two business segments: Mobile Network Operation and Internet Services. The Mobile Network Operation segment includes the sale of mobile recharge cards, monthly subscriptions packages, devices, special offers and roaming services; the Internet services segment includes Internet operation services.

For more information, contact:

Public relations contacts

Email: tamer.zakaria@orange.com

About Telecom Egypt

Telecom Egypt (te), Egypt's incumbent telecom operator, started its operations in 1854. 2017 marks a new milestone for the company as it transforms into a fully integrated telecom operator through the long awaited launch of mobile services on 19 September 2017. te provides consumer and enterprise telecom services including fixed plus mobile voice and data services and has been able to gain 1m customers in its first month of mobile launch. te also maintains its market leadership position in the fixed broadband market with a market share of 78%. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. Aside from its own mobile operations, the company owns a 45% stake in Vodafone Egypt, the leading and most profitable mobile operator in Egypt.

te's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on The Egyptian Exchange and the London Stock Exchange.

For more information, contact:

Media relations team

Email: media-relations@te.eg

Investor relations team

Email: investor.relations@te.eg

Telecom Egypt Company SAE published this content on 22 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 November 2017 14:59:04 UTC.

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