In order for the Ministry of Communications and Information Technology (MCIT) to free up 4G spectrum, certain imported equipment is required, according to Minister Yasser Al Kady. This is the main reason why 50% of the 4G license cost will be paid in USD by the operators; the USD proceeds will be used to import the required equipment. In other news, Telecom Egypt (TE) [ETEL.CA] will sign new commercial agreements with the mobile network operators (MNOs), which would allow it to offer voice services virtually through the MNOs’ respective networks, according to an unnamed source at TE. The source added that the company has all the required USD-denominated funds. (Al Mal)   Telecom Egypt: EGP8.73 as of 16 June 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,678 million, ETEL EY / ETEL.CA