Telecom Egypt settles dispute with Sofisat Communications
A court in Egypt has ruled in the favour of Sofisat Communications, one of the investments Telecom Egypt (TE) [ETEL.CA] holds, to get paid EGP330 million by TE. TE has reached an agreement with Sofisat Communications not to pay the entire amount. According to the release, the amount had been provided for previously, and the payment should not affect TE’s financials. (Company disclosure) Telecom Egypt: EGP5.95 as of 27 January 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,297 million, ETEL EY / ETEL.CA
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