Telecom Egypt plans to replace copper cables with fiber optic ones in 106 telephone exchanges
Telecom Egypt (TE) [ETEL.CA] has announced plans to replace the copper cable network in 106 exchanges across the country with fiber optic cables. The exchanges are located in West Cairo, New Cairo, Giza, Alexandria, The North Coast and other major cities in Upper Egypt and Delta. In other news, Commercial International Bank’s (CIB) CEO, Hisham Ezz El Arab is one of the leading candidates to join TE’s board, which should be reconstituted in March, 2016. (Al Mal) Telecom Egypt: EGP6.29 as of 15 February 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,371 million, ETEL EY / ETEL.CA
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