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English news

03-Feb-2016

Telecom Egypt postpones BoD meeting, discusses annual salary raise

The Board of Directors (BoD) of Telecom Egypt (TE) [ETEL.CA] has postponed its general assembly meeting which was set to take place yesterday to Monday 8 February. Major topics that will be discussed by the Board include: looking into increasing the annual salary raise to 10% from 8% and ratifying the FY2015 financial statements. It is worth noting that the tenure of the current board, which is headed by Eng. Walid Gad, should be concluded during March, 2016. (Al Mal)   Telecom Egypt: EGP6.13 as of 2 February 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,336 million, ETEL EY / ETEL.CA

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