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19-Jul-2016

STC expresses interest in 4G licence in Egypt

Saudi Telecom Company (STC) [7010.SE] has expressed interest in acquiring the 4G licence in Egypt, according to an unnamed official at the Egyptian Ministry of Communications and Information Technology (MCIT). STC has not presented an official offer yet. Zain Kuwait [ZAIN.KW] and China Telecom had also expressed interest in acquiring the licence. The former has presented an official request, while the latter has not. This pressures the local mobile network operators (MNOs) to accept the terms of the licence before the deadline set by the government, according to Bloomberg. It is worth noting that the 4G licence would be offered to foreign operators if the local MNOs backed out from accepting the licence terms. (Bloomberg)   Saudi Telecom Company: SAR64.52 as of 18 July 2016, Rating: Buy, FV: SAR79.00 per share, MCap: USD34,411mn, STC AB / 7010.SE Zain Group: KWD0.33 as of 18 July 2016, Rating: Buy, FV: KWD0.51 per share, MCap: USD4,755mn, ZAIN KK / ZAIN.KW

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