Telecom Egypt acquires spectrum for $125m

Telecom Egypt acquires spectrum for $125m

Telecom Egypt acquired 5MHz of spectrum in the 1,800MHz band for US$125 million as the operator looks to support rising traffic on its network.

The operator detailed in a statement that the National Telecom Regulatory Authority (NTRA) accepted its financial and technical offer on a 10-year deal, and it will tap into FDD technology with the spectrum.

The airwaves will be used “almost immediately” to enhance voice and data service quality, and coverage nationwide, and support the growing digitisation of Egypt.

Telecom Egypt noted the cash injection marked a milestone in the operator's transition from a fully integrated telecom provider to a leading ICT provider.

“We are delighted that Telecom Egypt's request for more spectrum has been accepted. Together with our current spectrum packages, this additional package will enable us to continue providing competitive, highly-efficient connectivity while accommodating for the rapid expansion of our mobile customer base. We intend to leverage our licenses to deliver value that meets the aspirations of both businesses and consumers, while also providing cost efficiencies for the company and maximizing shareholder value,” said Telcom Egypt managing director and CEO Adel Hamed.

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