CAIRO May 5 Fixed line monopoly operator
Telecom Egypt's board of directors agreed to pay 2.5 billion
Egyptian pounds ($356.76 million) for a mobile licence, the firm
said in a statement on Monday.
The telecommunication's minister announced last month that
Telecom Egypt was offered a mobile licence for 2.5 billion
Egyptian pounds but that it would not include new frequencies,
such as 4G mobile broadband services.
"The firm's board of directors agreed in its emergency
meeting on May 4 to obtain the mobile phone licence without
frequencies in return for 2.5 billion Egyptian pounds," the
The head of telecoms regulator Hesham El Alaily said last
month that an auction of radio spectrum for 4G mobile broadband
services would be held in June 2016.
Until then Telecom Egypt will be able to offer mobile
services through the networks of Egypt's three existing mobile
phone service providers.
($1 = 7.0076 Egyptian Pounds)
(Reporting by Asma Alsharif; editing by Jason Neely)