Hamdy El-Leithy, CEO of Linatel Telecommunications, said his company is in negotiations to participate in setting up Telecom Egypt’s infrastructure for its mobile network.
El-Leithy said that the company has been in negotiations with Telecom Egypt’s officials since last year, adding that the company seeks to resume the discussions within the coming days.
Revenues from the company’s main activities increased by EGP 2.7bn, supported by the international cables unit, which saw revenues going up by EGP 1.7bn, in addition to roaming services for visitors to Egypt, where revenues were up by EGP 266.4m, due to the exchange rate hike.
Moreover, revenues from operators’ units increased by EGP 753.7m due to the increase in revenues from infrastructure.
Telecom Egypt’s results showed a net profit, in the first nine months of this year, of EGP 3.547bn, compared to EGP 3.181bn in the same period last year, marking an increase of 12% with a profit margin of 27%.
Total revenues of the company reached EGP 13.261bn, rising from EGP 9.657bn last year, an increase of 37%.
TE’s share of revenues from sister companies was up from EGP 1.1bn to EGP 1.7bn. The state-funded telecom company began to provide mobile services officially on 18 September through its WE network.
The company injected about EGP 1.4bn of investments to provide 4G mobile services. These investments were directed to establish the required infrastructure for the new mobile sector.
Meanwhile, TE paid EGP 595m to the National Telecommunications Regulatory Authority (NTRA) to obtain the frequencies needed for the mobile services.