07 Feb Egypt: Telecom Egypt and Vodafone Egypt ink infrastructure deal
Telecom Egypt (TE) has announced the signing of a wholesale agreement with Vodafone Egypt under which it will provide the latter with transmission and infrastructure services. In a press release regarding the matter, TE confirmed that the agreement actually took effect from last month and will run for a three-year period. Meanwhile, it noted that the contract guarantees a minimum revenue of EGP2.37 billion (USD134 million) over the tenure of the agreement, with the fixed line incumbent adding that it will allow Vodafone Egypt to ‘benefit from new technical and commercial terms’. The deal, it has been claimed, represents ‘a new step to maximise the commercial cooperation between the two companies and confirms the importance of partnership as the key driver to ensure the continuation of such cooperation’.