TE to invest EGP1.5 billion in 2008, still considering Lacom future

7 Aug 2008

Telecom Egypt (TE) chairman Akil Beshir has announced that his company has earmarked EGP1.5 billion (USD285 million) for network investments in this financial year, according to local news source Daily News Egypt. Beshir also suggested that the fixed line operator is still considering the sale of its 50% stake in Lacom, its Algerian joint venture with fellow Egyptian telco Orascom Telecom. According to TeleGeography’s GlobalComms database, in February 2008 Algeria’s Minister of Posts and Telecommunications promised to remove any barriers preventing Lacom from competing effectively with incumbent Algerie Telecom.

Egypt, Telecom Egypt