Orange Egypt to launch fixed-line services by 1Q19, to list additional shares on EGX
Orange Egypt [OREG.CA] will launch fixed line services by 1Q19, Al Alam Al Youm quoted Yasser Shaker, the company’s CEO, as saying. Shaker added that the company is in talks with Telecom Egypt (TE) [ETEL.CA] to reach a commercial and technical agreement. On a separate note, Shaker mentioned that Orange Group is currently studying options of either listing additional shares or finding a local partner to comply with the Capital Market Authority’s requirement of having at least a 5% free float, mentioning that the delay in complying with the regulation is due to the fact that he has only held the post for a short period of time and is still considering all alternatives.
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