Telecom Egypt Becomes the First Operator to Acquire 4G Licence in the Country. Telecom Egypt, the state-owned telephone company has signed an agreement to acquire 4G mobile licence.
The country’s telecom watchdog will offer this 4G technology to other three mobile companies that includes Vodafone Egypt, Orange Egypt and Etisalatas in order to increase the broadband connectivity in the country.
Telecom Egypt Becomes the First Operator to Acquire 4G Licence in the Country
The agreement was announced by “National Telecommunications Regulatory Authority” and “Telecom Egypt”.
Telecom Egypt said that:
“On the stock exchange website that the 15-year licence will cost the company EGP 7.08 billion, of which EGP 5.2 billion was paid in advance, half of which in dollars.”
The government Egypt also said that:
“The introduction of the new technology aims to maximize revenues for the state coffers and improve the speed of services to mobile customers.”
Egypt Telecom that has landline monopoly in the country, owns a 45% stake in the Vodafone Egypt. It will now also provide mobile phone services within coming 6 months.
With each passing day, internet is reaching across every corner of the world and playing significant role development of nations. Similarly, Egypt will now also witness a new era of technological advancement with 4G intervention.