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English news

12-Jan-2016

ISPs to consider suing TE for high infrastructure renting fees

The internet service providers (ISPs) in Egypt are considering filing a suit against Telecom Egypt (TE) [ETEL.CA] in an economic court for its high infrastructure renting fees and accusing it of monopolistic activities. According to an unnamed source, TE scrapped talks to reduce utilisation fees and set arbitrary terms for the ISPs to ensure high utilisation fees. Al Borsa reported that, ISPs have lost more than 300,000 subscriptions and c.EGP100 million in 2015 to TE’s ADSL arm, TE Data due to these monopolistic violations. (Al Borsa)   Telecom Egypt: EGP6.35 as of 11 January 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,384 million, ETEL EY / ETEL.CA

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