Orange Egypt and Etisalat Misr in talks with parent companies to finance portion of 4G licence; Vodafone Egypt to draw down EGP2bn from EGP4bn facility
Orange Egypt and Etisalat Misr are in talks with their parent companies, Orange Group and Etisalat Group, to finance a portion of the 4G licence cost, according to sources close to the matter. The remaining portion of the licence cost is expected to be sourced from a major state-owned bank. Meanwhile, Vodafone Egypt (VFE) will draw down EGP2bn from a EGP4bn facility obtained in 2014 from a syndicate of seven banks to finance the licence cost. (Amwal Al Ghad)
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