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Telecom Egypt shops for integrated telco company

March 16, 2010 • Mobile and Telecoms

State-owned Telecom Egypt is considering the acquisition of an integrated telecom player, if made available and possibly a bid for a fourth mobile license in Egypt.

“We want an integrated player. We keep our eye on what is going on and if an opportunity comes we look at it. This is an ongoing process”, says Tarek Tantawy, CEO Telecom Egypt, following the release of the company’s full year results, writes Total Telecom.

Also, the Egyptian telco intends to expand its mobile footprint in the country by acquiring a mobile license, a move which depends entirely on the country’s regulator.

“We are interested in increasing our exposure to mobile. I would say the market can sustain a fourth player and if it comes up we would be interested”, he added.

Telecom Egypt has a 45% stake in Vodafone Egypt and took full ownership of TE Data in January 2010. The company is currently working on cost optimization initiatives with its new Internet arm, TE Data.

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