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Telecom Egypt Co SAE (ETEL.CA)

ETEL.CA on Cairo Stock Exchange

14.11EGP
23 Apr 2019
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Latest Key Developments (Source: Significant Developments)

Telecom Egypt Q4 Loss Narrows
Wednesday, 20 Feb 2019 11:13pm EST 

Feb 21 (Reuters) - TELECOM EGYPT ::Q4 CONSOLIDATED NET LOSS AFTER TAX EGP 22 MILLION VERSUS LOSS OF EGP 431 MILLION YEAR AGO.Q4 CONSOLIDATED REVENUE EGP 5.41 BILLION VERSUS EGP 5.44 BILLION YEAR AGO.FY CONSOLIDATED NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS EGP 3.48 MILLION VERSUS EGP 3.05 MILLION YEAR AGO.BOARD PROPOSES DIVIDEND OF EGP 0.25 PER SHARE FOR YEAR 2018.AS OF YEAR-END 3.9 MILLION MOBILE SUBSCRIBERS.  Full Article

Telecom Egypt Q3 Consol Profit Rises
Wednesday, 14 Nov 2018 09:29am EST 

Nov 14 (Reuters) - TELECOM EGYPT CO ::Q3 CONSOL NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS EGP 1.45 BILLION VERSUS EGP 963 MILLION YEAR AGO.Q3 CONSOL OPERATING REVENUES EGP 7.23 BILLION VERSUS EGP 4.39 BILLION YEAR AGO.  Full Article

Telecom Egypt Signs $500 Mln Medium-Term Syndicated Loan
Thursday, 18 Oct 2018 03:41am EDT 

Oct 18 (Reuters) - TELECOM EGYPT CO ::SIGNS $500MN MEDIUM-TERM SYNDICATED LOAN.LOAN WILL BE USED TO SUPPORT ITS CAPITAL AND OPERATIONAL EXPENDITURE, AND REFINANCE AN EXISTING SHORT-TERM FACILITY.FIRST ABU DHABI BANK AND MASHREQ BANK WERE MANDATED AS JOINT BOOKRUNNERS AND MANDATED LEAD ARRANGERS OF FACILITY.  Full Article

Telecom Egypt Signs Agreement With Bharti Airtel For Global Submarine Cable Systems
Tuesday, 2 Oct 2018 06:45am EDT 

Oct 2 (Reuters) - TELECOM EGYPT ::SIGNS AGREEMENT WITH BHARTI AIRTEL FOR GLOBAL SUBMARINE CABLE SYSTEMS.AGREEMENT GRANTS AIRTEL IRUS ON MENA CABLE AND TE NORTH CABLE SYSTEMS .ADDITIONALLY, AIRTEL WILL TAKE LARGE CAPACITIES ON LONG-TERM BASIS ON TWO NEW CABLE SYSTEMS (SMW5 & AAE1).AGREEMENT IS EXPECTED TO LEAD TO IMMEDIATE RECOGNITION OF REVENUE AND CASH FLOW OF $90 MILLION.IN ADDITION TO ABOUT 4 PERCENT OF ANNUAL RECURRING REVENUE FOR TELECOM EGYPT OVER LIFETIME OF CABLE SYSTEMS (MIN. OF 15 YEARS).  Full Article

Telecom Egypt, Liquid Telecom Sign Mou For Fibre Network From Cape To Cairo
Friday, 13 Jul 2018 09:11pm EDT 

July 15 (Reuters) - TELECOM EGYPT CO ::TELECOM EGYPT AND LIQUID TELECOM SIGNS MOU FOR COMPLETION OF FIRST FIBRE NETWORK FROM CAPE TO CAIRO.UNDER MOU, LIQUID TELECOM WILL LINK ITS NETWORK FROM SUDAN INTO TELECOM EGYPT’S NETWORK VIA NEW CROSS BORDER INTERCONNECTION.  Full Article

Telecom Egypt Obtains $200 Mln Financing With Chinese Financial Institutions
Tuesday, 29 May 2018 11:57pm EDT 

May 30 (Reuters) - TELECOM EGYPT ::TELECOM EGYPT AND HUAWEI SIGN $200 MILLION LONG-TERM FINANCING WITH CHINESE FINANCIAL INSTITUTIONS INCLUDING BANK OF CHINA AND CHINA EXPORT & CREDIT INSURANCE CORPORATION (SINOSURE).HUAWEI FACILITATED PROVIDING COMPETITIVE FINANCING CONDITIONS TO TELECOM EGYPT TO FINANCE ROLL-OUT OF 4G NETWORK AND DEPLOYMENT OF TRANSMISSION AND CORE NETWORKS.TENOR OF FACILITY IS 48 MONTHS WITH A GRACE PERIOD OF 24 MONTHS.  Full Article

Telecom Egypt Signs $200 Mln Financing Deal With AFREXIMBANK
Tuesday, 22 May 2018 12:13am EDT 

May 22 (Reuters) - TELECOM EGYPT ::SIGNS $200 MILLION SHORT-TERM FACILITY FROM THE AFRICAN EXPORT-IMPORT BANK (AFREXIMBANK) TO FINANCE WORKING CAPITAL AND INVESTMENTS IN INFRASTRUCTURE.SAYS ABU DHABI ISLAMIC BANK EGYPT SERVED AS THE FINANCIAL ADVISOR FOR THE SHORT-TERM FACILITY.  Full Article

Telecom Egypt Amends Proposed FY Dividend On Potential Investment
Wednesday, 28 Mar 2018 02:00am EDT 

March 28 (Reuters) - TELECOM EGYPT CO ::ANNOUNCES A POTENTIAL SUBMARINE CABLE INVESTMENT OPPORTUNITY.BOARD OF DIRECTORS DETERMINED TO REDUCE EARLIER PROPOSED DIVIDEND FOR FY 2017 TO EGP 0.25 FROM EGP 1 PER SHARE.EXPECTS TO MAXIMIZE CO'S RETURNS FROM CABLE BUSINESS AND ENSURE CONTINUATION OF CURRENT REVENUE STREAM.AMENDMENT OF DIVIDEND FOR FY-17 IS INTENDED TO AVAIL SHORT-TERM FINANCING TO INVESTMENT OPPORTUNITY CRUCIAL FOR CONTINUATION OF REVENUE STREAM OF CABLE BUSINESS.  Full Article

Telecom Egypt Q4 Consol Loss Narrows
Monday, 5 Mar 2018 01:30am EST 

March 5 (Reuters) - TELECOM EGYPT CO ::Q4 CONSOL NET LOSS AFTER TAX EGP 396 MILLION VERSUS LOSS OF EGP 511 MILLION YEAR AGO.Q4 CONSOL REVENUE EGP 5.44 BILLION VERSUS EGP 4.43 BILLION YEARA GO.BOARD PROPOSES CASH DIVIDEND OF EGP 1 PER SHARE FOR 2017.IN-SERVICE CAPEX INCLUDING LICENSE FEES FOR FY 17 AMOUNTED TO EGP 10.7 BILLION VERSUS 10.0 BILLION LAST YEAR AND CASH CAPEX REACHED 7.5 BILLION VERSUS 8.6 BILLION IN FY 16.AS AT END-DEC, 2017 TOTAL FIXED BROADBAND CUSTOMERS GREW 20 PERCENT YOY TO REACH 4.1 MILLION.AS AT END-DEC, FIXED VOICE CUSTOMERS REACHED 7.1 MILLION, UP 11 PERCENT YOY.  Full Article

Orange Egypt, Telecom Egypt Sign Network Infrastructure Agreement
Tuesday, 20 Feb 2018 02:50am EST 

Feb 20 (Reuters) - ORANGE EGYPT FOR TELECOMMUNICATION ::ORANGE DATA SIGNS 3-YEAR NETWORK INFRASTRUCTURE AGREEMENT WITH TELECOM EGYPT ‍​.UNDER TERMS, ORANGE DATA WILL USE TELECOM EGYPT'S FIXED INTERNET SERVICES NETWORK.  Full Article

MIDEAST STOCKS-Dubai extends rally, Saudi banks hit on profit-taking

* Dubai property stocks extend gains * Saudi's Mobily rises on fourth-quarter profit * Nine of 11 Saudi banks slide * Banks also weak in Qatar * Telecom Egypt jumps on dividend, deal with Vodafone Egypt By Shakeel Ahmad Feb 19 The Dubai stock market extended gains as it rose for a fifth session on Tuesday, mainly driven by property stocks after strong fourth-quarter earnings. Saudi Arabia's market fell as investors booked profit after the market gain