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Telecom Egypt secures 4G License for US$806m

By , ITWeb
Egypt , 02 Sep 2016

Telecom Egypt secures 4G License for US$806m

Egypt's National Telecom Regulatory Authority (NTRA) and Telecom Egypt (TE) have signed a license agreement to establish and operate the fourth generation (4G) networks for mobile phone, valued at 7.08 billion Egyptian Pounds.

The signing ceremony took place on Wednesday this week at NTRA Smart Village premises. Egypt's Minister of Communications and Information Technology Yasser ElKady was joined by NTRA officials, and Telecom Egypt officials and BoD for the signing ceremony.

"The license agreement was signed by NTRA Acting Executive President Mustafa Abdel Wahed and Telecom Egypt CEO Tamer Gadallah. The new license allows TE to provide 4G services, using new frequencies."announced the government after the transaction was concluded.

NTRA says it has approved the regulatory framework of the Egyptian telecommunication market, including the 4G services with the primary objective of allowing all mobile operators to offer the same services to end users.

"Introducing the 4G technology in mobile services will contribute to increasing Internet speed, improving the quality of the current service and providing new services for the benefit of citizens. Moreover, introducing TE as a new mobile operator to the Egyptian market will contribute to benefiting citizens in terms of quality of services and prices. This is in addition to providing revenue to the public treasury of the state and creating new jobs," concluded the Communications and Information Technology Ministry in its announcement.

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