Telecom Egypt receives 5mn SIM cards from Gemalto, IDEMIA
Telecom Egypt (TE) [ETEL.CA] purchased 5mn SIM cards from IDEMIA and Gemalto, according to Al Borsa. This comes after TE’s receipt of 1mn SIM cards from Gemalto in Aug and 4mn SIM cards from IDEMIA in the months that followed. WE, TE’s mobile network, reached 1.7mn subscribers at the end of Nov 2017.
Telecom Egypt: EGP13.84 as of 13 Dec. 2017, Rating: Buy, TP: EGP15.70/share, MCap: USD1,321mn, ETEL EY/ETEL.CA
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