The National Telecommunication Regulatory Authority (NTRA) has not received a formal request from the mobile network operators (MNOs) to renegotiate the 4G licence terms, according to a high-ranking source at NTRA. MNOs had rejected the 4G licence terms due to a number of reasons, chief of which is the low amount of spectrum offered. NTRA is set to convene on 12 October to decide if the unwanted 4G spectrum would be bundled and offered in an international bid or offered to Telecom Egypt (TE) [ETEL.CA], which formally requested to acquire the unwanted spectrum. In other news, NTRA has decided to offer the international gateway licence to Vodafone Egypt (VFE) and Orange Egypt, using the old system, which was used to price Etisalat Misr’s licence price, which stipulates that any operator interested in the international gateway licence should pay a fee of EGP100 for old subscribers and EGP20 for each new subscriber. This implies a total licence price of EGP3.9bn and EGP3.4bn for each VFE and Orange Egypt, respectively. (Al Borsa)   Telecom Egypt: EGP8.94 as of 05 October 2016, Rating: Neutral, FV: EGP10.25 per share, MCap: USD1,719mn, ETEL EY / ETEL.CA