Telecom Egypt gets profits from Vodafone earnings

Telecom Egypt (WE) will gain a profit of EGP 4.5 billion based on the agreement with Vodafone, Ayman Essam, Head of External and Government Relations and Legal Affairs at Vodafone Egypt, said.

WE received EGP 2 billion that disbursed last March, and it is expected to receive another EGP 2.5 billion by the end of this month subject to the approval of the general assembly of Vodafone Egypt.

WE own 45% of Vodafone Egypt while Vodafone International owns 55%.