Telecom Egypt eyes integrated telecom company

www.WirelessFederation.com/news: Acquisition of an integrated telecom company has been considered by state-owned Telecom Egypt which is the only provider of fixed-line services in the country. If the fourth mobile license arrives in the market, the company would consider making a bid for it.

However, no timeline for the acquisitions has been given and the possibility of a fourth mobile license depends on the Egyptian regulator.

According to firm’s chief executive officer, Tarek Tantawy, the company is interested in increasing its exposure to mobile and the market can sustain a fourth player and if it comes up the firm is more than interested.

Profit contribution in 2009 from Vodafone Egypt increased 8% year-on-year to EGP1.4 billion and its total customers stood at 23.3 million at the end of December. Telecom Egypt has a 45% stake in Vodafone Egypt.