Egypt set for third mobile operator by end of year
After years of rumour and discussion, it looks like Egyptians will have three mobile phone companies to choose from by the end of this year.
Egypt’s long-awaited third mobile operator could become a reality by the end of this year.
Aqueel Bashir, chairman of Telecom Egypt, has announced that the establishment of the new company will begin within six months.
State-owned Telecom Egypt is expected to start looking for a strategic investor “fairly soon,” according to Bashir. The company will work with an international bank to help identify an appropriate candidate.
“There are negotiations underway at the moment with an international bank, but I cannot comment on them until we reach a final agreement,” said Bashir.
A further announcement is expected later this week.