The National Telecom Regulatory Authority (NTRA) has received a $1.2bn worth bids from mobile operators for new frequencies offered by the authority.
The new frequencies were split over two packages, the first of which reached 40 MHz, while the other was 20 MHz of frequencies.
According to an NTRA source, Vodafone submitted a bid to obtain a 40 MHz package, while Telecom Egypt (TE) requested a 20 MHz package.
The source said that a third bid was made by Etisalat Misr for 20 MHz.
The NTRA set the bidding system for obtaining the frequencies for usufruct for a period of 10 years, with the price of the 10 MHz frequency valued at $150m.
A total of 50% of the value of the frequencies will be paid upon signing the frequency assignment agreement. The remaining amount will be divided into two equal instalments due within three years in local currency based on the dollar price at the time of payment.
The NTRA offered the new frequencies after requests from the four mobile operators in the local market to improve their services.