Telecom Egypt to invest US$285 million into its network

Telecoms

According to Telecom Egypt's Chairman Akil Beshir, the company allocated a total of LE 1.5 billion (US$285 million) for network investments in fiscal year 08. He expects that by August 2009, Internet prices will significantly decrease.

He also said that the company may sell its50% stake in Lacom, its subsidiary in Algeria, its joint venture with Orascom, in the event it does not reach an agreement with the new Algerian authorities