Telecom Egypt News
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Telecom Egypt Co., the country’s monopoly fixed-line phone service, said first-quarter profit fell 6.2 percent as slowing economic growth led to reduced calling abroad.
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Egypt’s benchmark stock index surged the most in two months on investor bets a Cabinet change will boost the nation’s prospects of finalizing a loan agreement with the International Monetary Fund.
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Vodafone Group Plc, the second- largest mobile service provider, is boosting investments in its African businesses as higher growth rates promise relief from stagnant earnings in Europe.
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Telecom Egypt, the country’s monopoly fixed-line phone operator, said 2012 profit retreated 13 percent as expenses rose and more customers gave up their traditional fixed-lines.
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Telecom Egypt, the monopoly fixed- line operator, expects the regulator to decide on the fate of its stake in Vodafone Egypt and the resolution of a dispute with two incumbent mobile phone operators next year, paving the way for obtaining Egypt’s fourth mobile license.
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Telecom Egypt, the Arab country’s fixed-line monopoly, said it has increased efforts to generate revenue from “high-end” customers after profit fell 7 percent.
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Telecom Egypt may seek investors to join a possible bid to buy Vodafone Group Plc ’s 55 percent stake in its Egyptian unit, a person familiar with the talks said.
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Telecom Egypt , the country’s fixed- line telephone monopoly, is seeking to increase its investment in the mobile-phone market, Tarek Tantawy, chief executive officer and managing director, said.
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Telecom Egypt , the North African country’s fixed-line monopoly, said second-quarter profit rose 23 percent, beating analyst estimates, as subscribers increased and margins widened.
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Telecom Egypt , the country’s monopoly fixed-line phone-service provider, said third-quarter profit fell 7.3 percent on lower income from associate companies.
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