Telecom Egypt and Etisalat Misr have announced the signing of six new commercial and strategic agreements worth US$911 million.
The companies indicated that this new venture will allow both parties to increase their returns and support the development of new technologically advanced services to end-users in the local market.
According to a statement released by the companies, the deal will allow Telecom Egypt to provide Etisalat Misr services, including infrastructure, access and voice services, authorizing Etisalat to offer premium services to its customers on Telecom Egypt’s network.
Furthermore, the companies indicated that the largest agreement is a 10-year transmission deal, valued at US$670 million.
Adel Hamed, Telecom Egypt’s Managing Director and Chief Executive Officer, said, “We are delighted to have signed these agreements with Etisalat Misr, as this deal stimulates the cooperation between both entities to best serve their customers. In the past years, we have been investing tremendously in upgrading our backbone network, and we are working on increasing the returns on our infrastructure investment in order to continue to serve the local telecom market.”
According to the companies, this agreement will secure the current and future expansions of Etisalat Misr’s network on Telecom Egypt’s infrastructure.
Also commenting on the partnership, Chief Executive Officer of Etisalat Misr, Hazem Metwally, said, “We are thrilled about our partnership with Telecom Egypt, which attests to our leadership within the technology and telecom sector, playing a vital role in leading the digital future in the country. We look forward to investing, strengthening and upgrading our network to meet the needs for data usage in Egypt.”
Other agreements signed include Fibre to the site (FTTS) and modification to the national roaming agreements, added the statement.