Etisalat wins Egypt licence

Incumbent UAE telco etisalat has won the bid to run Egypt’s third mobile network, paying 16.7 billion Egyptian Pounds (US$2.9bn) for the licence.

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By  Eliot Beer Published  July 5, 2006

Incumbent UAE telco etisalat has won the bid to run Egypt’s third mobile network, paying 16.7 billion Egyptian Pounds (US$2.9bn) for the licence. “We were very confident that Egypt is a sound investment, and that the process of licensing and deciding will be in favour of the offer that will best serve the Egyptian customer,” said Mohammed Hassan Omran, chairman of etisalat. “We would like to thank the Egyptian National Telecom Regulatory Authority and the Ministry of Telecommunications and Information Technology for the transparency and objectivity in the selection process. We are delighted and honoured that the decision was in favour of our consortium.” Etisalat’s consortium includes Egypt Post, National Bank of Egypt and Commercial International Bank. The UAE-based telco says its consortium partners will help it deliver high levels of service to the Egyptian market. “We are delighted to have won the license,” said Engineer Alaa Fahmy, chairman of Egypt Post. “This is an important investment for Egypt Post and we are confident that with our century-long and country-wide experience in serving our customers all over Egypt and with etisalat’s state-of-the-art technologies and vast experience in the telecom sector, we and all our partners will be able to deliver to Egyptian customers a truly technologically advanced and value-added service that is customer oriented and focused, which will meet the Egyptian customers’ expectations.” Etisalat has been very active in the Middle East and Africa over the last few years, winning licences or stakes in incumbent operators from Saudi Arabia to Pakistan, and Afghanistan, as well as a large number of African countries. The third Egyptian mobile licence includes the right to run both 2G and 3G networks.

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