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MENAFN - 12/11/2012

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(MENAFN) Landline operator Telecom Egypt said it is in advanced talks with the Egyptian government to allow the firm to offer mobile services, Reuters reported.

CEO Mohamed El-Nawawy said an agreement could be imminent. He didn't give a timetable for the deal.

Nawawy added Egypt's population of about 83 million was expanding at a pace that could support a new mobile entrant.

Telecom Egypt, which is 80 percent owned by the state, has been relying on its data business to boost revenue. It also has a 45 percent stake in Vodafone Egypt, which in the third quarter accounted for a third of net profit.

Nawawy said that any agreement on a universal licence for Telecom Egypt would mean changing the licences of Egypt's three mobile operators, Vodafone Egypt, Mobinil, controlled by France Telecom, and Dubai's Etisalat, to allow them to enter the same businesses.

The CEO added the company could look to set up its own independent network in future.

 






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