Etisalat Signs Landline Capacity Agreement with Telecom Egypt
Egypt's Etisalat Misr has signed a capacity leasing agreement with the monopoly landline operator, Telecom Egypt for its basic telephony services.
In a statement to the local stock exchange, Telecom Egypt said that the wholesale capacity deal with Etisalat would be worth EGP 600 million (US$85 million)
The move is the first of several that are expected to be announced as the government changes the regulations to allow the mobile networks to offer landline services -- by leasing capacity from Telecom Egypt.
In return, Telecom Egypt, which already owns a 45% stake in Vodafone Egypt is to receive an MVNO license to provide mobile services.