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25-Jul-2016

Telecom regulator imposes additional 1% fee of mobile revenues on Telecom Egypt

The National Telecommunication Regulatory Authority (NTRA) has imposed an additional 1% fee from mobile service revenues on Telecom Egypt (TE) [ETEL.CA] to support the Universal Service Fund (USF). This is in addition to the 6% of total revenues announced earlier. NTRA has been receiving the same fee from the other mobile network operators (MNOs) since the launch of their networks in Egypt, according to a high ranking official at NTRA. (Al Borsa)   Telecom Egypt: EGP9.01 as of 24 July 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,732 million, ETEL EY / ETEL.CA

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