Telecom Egypt, the country's state-owned landline monopoly, is in talks with banks about a 5 billion Egyptian pound ($563.07 million) loan to acquire a 4G licence, banking sources said on Thursday.
The sources said Etisalat Egypt was also in talks with banks for a 5 billion pound loan to acquire the licence.
"TE is negotiating to acquire five billion pounds, and Etisalat Egypt is also negotiating for the same amount to obtain the 4G licence, the National Bank of Egypt is participating in managing the loans," one banking ource said.
The sale of 4G licences is part of a long-awaited plan to reform Egyptian telecoms. The reforms will potentially allow Egypt's land-line monopoly, TE, which owns a 45 percent stake in Vodafone Egypt , to enter the mobile phone market directly.
Source: https://www.zawya.com/mena/en/business/technology/story/TR20160721nL8N1A72D5X2/
