Orange Egypt has confirmed receiving the 4G licence pricing terms from the National Telecommunication Regulatory Authority (NTRA) at EGP3.54bn, whereby 50% of the cost will be paid in USD and the balance in EGP. NTRA also offered the company the international gateway licence and the virtual fixed-line licence for EGP1.8bn and EGP100mn, respectively. In related news, Orange Egypt and Vodafone Egypt (VFE) will submit a petition to NTRA to re-price the international gateway licence and also to be able to pay the amount in instalments, citing that Etisalat Misr was not required to pay the full international gateway licence cost back then. Telecom Egypt (TE) [ETEL.CA] has also received a letter from NTRA, confirming that it has been awarded the 4G licence; however, the pricing terms have not been confirmed as of yet by the company. (Company disclosure, Al Borsa)   Telecom Egypt: EGP8.63 as of 19 June 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,659 million, ETEL EY / ETEL.CA